Sompo Asset Management Co. Ltd. Invests $706,000 in Parker-Hannifin Co. (NYSE:PH)

Sompo Asset Management Co. Ltd. bought a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,110 shares of the industrial products company’s stock, valued at approximately $706,000.

Several other hedge funds have also made changes to their positions in PH. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd acquired a new position in Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC bought a new stake in Parker-Hannifin in the fourth quarter worth about $30,000. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth $40,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 3.5 %

Shares of PH opened at $566.66 on Wednesday. The firm has a market capitalization of $72.94 billion, a price-to-earnings ratio of 23.45, a P/E/G ratio of 2.85 and a beta of 1.39. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44. The stock’s 50-day moving average price is $613.99 and its 200 day moving average price is $647.57. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, research analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were given a dividend of $1.63 per share. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 1.15%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating on the stock in a report on Monday, April 14th. KeyCorp dropped their price objective on shares of Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Truist Financial lowered their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Citigroup cut their price objective on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $705.35.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.