Assetmark Inc. Decreases Stock Holdings in Parker-Hannifin Corporation $PH

Assetmark Inc. reduced its stake in Parker-Hannifin Corporation (NYSE:PH) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,760 shares of the industrial products company’s stock after selling 1,275 shares during the quarter. Assetmark Inc.’s holdings in Parker-Hannifin were worth $27,870,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC grew its position in Parker-Hannifin by 1.3% in the second quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock worth $747,000 after acquiring an additional 14 shares during the period. High Net Worth Advisory Group LLC grew its holdings in shares of Parker-Hannifin by 0.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock worth $3,559,000 after purchasing an additional 14 shares during the period. Meadow Creek Wealth Advisors LLC increased its position in shares of Parker-Hannifin by 3.6% during the 2nd quarter. Meadow Creek Wealth Advisors LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 15 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in Parker-Hannifin by 0.8% in the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock valued at $1,280,000 after buying an additional 15 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after buying an additional 15 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.9%

NYSE PH opened at $1,001.30 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $1,012.49. The stock has a market capitalization of $126.38 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.25. The firm has a 50 day moving average of $920.62 and a two-hundred day moving average of $824.55.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the firm posted $6.53 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. As a group, research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 1,457 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the transaction, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,441,918.40. This trade represents a 36.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. This trade represents a 36.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,551 shares of company stock valued at $12,117,502 over the last three months. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. BNP Paribas Exane began coverage on Parker-Hannifin in a research note on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price target on the stock. Citigroup lifted their price objective on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, KeyCorp reissued an “overweight” rating and set a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $990.47.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.