Tokio Marine Asset Management Co. Ltd. Has $1.49 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 7.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,227 shares of the industrial products company’s stock after purchasing an additional 228 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $1,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $26,000. OFI Invest Asset Management bought a new position in Parker-Hannifin during the third quarter worth about $25,000. Baystate Wealth Management LLC increased its position in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 49 shares during the period. Oakworth Capital Inc. increased its position in Parker-Hannifin by 48.3% during the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 28 shares during the period. Finally, ORG Partners LLC bought a new position in Parker-Hannifin during the fourth quarter worth about $42,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.3 %

Shares of NYSE PH traded up $1.84 during trading on Friday, hitting $551.22. The stock had a trading volume of 57,491 shares, compared to its average volume of 578,303. Parker-Hannifin Co. has a 12 month low of $312.36 and a 12 month high of $570.15. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The company has a market capitalization of $70.78 billion, a PE ratio of 27.20, a PEG ratio of 2.00 and a beta of 1.52. The firm has a fifty day moving average of $542.60 and a two-hundred day moving average of $476.62.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.76 EPS. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on PH. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Truist Financial began coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 target price on the stock. Evercore ISI raised their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Finally, KeyCorp raised their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $515.38.

Insider Buying and Selling at Parker-Hannifin

In other news, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the sale, the executive vice president now directly owns 7,063 shares in the company, valued at $3,552,265.22. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock valued at $6,099,566 over the last three months. 1.03% of the stock is currently owned by insiders.

About Parker-Hannifin

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.