Nomura Asset Management Co. Ltd. grew its stake in Parker-Hannifin Corp (NYSE:PH) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,994 shares of the industrial products company’s stock after acquiring an additional 1,065 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Parker-Hannifin were worth $3,791,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC grew its position in shares of Parker-Hannifin by 10.2% in the 4th quarter. Jennison Associates LLC now owns 5,650,607 shares of the industrial products company’s stock valued at $1,127,748,000 after purchasing an additional 522,942 shares during the period. Longview Partners Guernsey LTD grew its position in shares of Parker-Hannifin by 0.4% in the 4th quarter. Longview Partners Guernsey LTD now owns 5,437,440 shares of the industrial products company’s stock valued at $1,085,204,000 after purchasing an additional 23,982 shares during the period. Geode Capital Management LLC grew its position in shares of Parker-Hannifin by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,406,700 shares of the industrial products company’s stock valued at $280,157,000 after purchasing an additional 32,531 shares during the period. Bank of New York Mellon Corp grew its position in shares of Parker-Hannifin by 0.9% in the 4th quarter. Bank of New York Mellon Corp now owns 970,656 shares of the industrial products company’s stock valued at $193,723,000 after purchasing an additional 8,357 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Parker-Hannifin by 3.0% in the 4th quarter. Victory Capital Management Inc. now owns 941,019 shares of the industrial products company’s stock valued at $187,809,000 after purchasing an additional 26,975 shares during the period. 81.67% of the stock is owned by institutional investors.
PH has been the subject of several research analyst reports. Zacks Investment Research upgraded Parker-Hannifin from a “hold” rating to a “buy” rating and set a $236.00 price objective for the company in a research report on Thursday, January 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $245.00 price objective (up from $218.00) on shares of Parker-Hannifin in a research report on Tuesday, January 16th. Deutsche Bank boosted their price objective on Parker-Hannifin to $200.00 and gave the company a “buy” rating in a research report on Monday, November 20th. ValuEngine lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Cowen reiterated a “hold” rating and issued a $180.00 price objective on shares of Parker-Hannifin in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $202.75.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.08. Parker-Hannifin had a return on equity of 23.15% and a net margin of 6.54%. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the firm posted $1.91 EPS. The business’s revenue was up 26.2% on a year-over-year basis. sell-side analysts expect that Parker-Hannifin Corp will post 9.97 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 9th were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 41.19%.
In other Parker-Hannifin news, Director Joseph Scaminace sold 1,149 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $184.24, for a total transaction of $211,691.76. Following the completion of the transaction, the director now owns 14,189 shares of the company’s stock, valued at approximately $2,614,181.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.12% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Parker-Hannifin Corp (PH) Stake Increased by Nomura Asset Management Co. Ltd.” was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/03/14/parker-hannifin-corp-ph-stake-increased-by-nomura-asset-management-co-ltd.html.
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.