Assenagon Asset Management S.A. Sells 56,869 Shares of Parker-Hannifin Co. (NYSE:PH)

Assenagon Asset Management S.A. reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 26.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 158,646 shares of the industrial products company’s stock after selling 56,869 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.12% of Parker-Hannifin worth $100,236,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. TD Asset Management Inc raised its holdings in Parker-Hannifin by 152.1% in the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after purchasing an additional 79,774 shares during the period. Daiwa Securities Group Inc. increased its stake in Parker-Hannifin by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after buying an additional 1,802 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in Parker-Hannifin by 261.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after buying an additional 1,819 shares in the last quarter. Oppenheimer Asset Management Inc. increased its stake in Parker-Hannifin by 54.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock worth $9,540,000 after buying an additional 6,029 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in Parker-Hannifin by 16.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company’s stock worth $23,634,000 after buying an additional 6,013 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Transactions at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PH shares. Wells Fargo & Company increased their price target on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. KeyCorp raised their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Robert W. Baird raised their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Mizuho raised their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $660.57.

Parker-Hannifin Trading Down 0.5 %

Shares of NYSE:PH traded down $3.31 during trading hours on Thursday, hitting $626.39. 282,170 shares of the company’s stock traded hands, compared to its average volume of 634,495. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The business has a fifty day moving average price of $609.91 and a 200-day moving average price of $561.47. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $646.60. The firm has a market capitalization of $80.52 billion, a P/E ratio of 29.50, a price-to-earnings-growth ratio of 2.60 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the business earned $6.08 EPS. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin Co. will post 26.68 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were paid a $1.63 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

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.