Assenagon Asset Management S.A. Boosts Position in Parker-Hannifin Corporation $PH

Assenagon Asset Management S.A. grew its position in Parker-Hannifin Corporation (NYSE:PH) by 10.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 155,360 shares of the industrial products company’s stock after buying an additional 14,726 shares during the quarter. Assenagon Asset Management S.A. owned 0.12% of Parker-Hannifin worth $136,555,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. ING Groep NV acquired a new stake in shares of Parker-Hannifin during the third quarter valued at $26,398,000. Quadrant Capital Group LLC increased its position in Parker-Hannifin by 20.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock worth $2,521,000 after purchasing an additional 604 shares in the last quarter. Procyon Advisors LLC raised its stake in Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Citigroup Inc. lifted its holdings in Parker-Hannifin by 54.7% in the 3rd quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company’s stock valued at $120,294,000 after purchasing an additional 56,103 shares in the last quarter. Finally, Wilkinson Global Asset Management LLC lifted its holdings in Parker-Hannifin by 28.2% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock valued at $36,720,000 after purchasing an additional 10,653 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.3%

Shares of PH stock opened at $906.47 on Tuesday. The firm’s 50-day simple moving average is $957.53 and its 200-day simple moving average is $865.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The firm has a market cap of $114.41 billion, a P/E ratio of 33.06, a PEG ratio of 2.88 and a beta of 1.23.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating 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 company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the business earned $6.53 earnings per share. As a group, equities analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Dinu J. Parel sold 1,316 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the sale, the vice president directly owned 6,534 shares in the company, valued at $6,207,626.70. This represents a 16.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 10,063 shares of company stock worth $9,891,214. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

PH has been the subject of a number of recent research reports. Citigroup lifted their price target on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a report on Friday, January 30th. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a research note on Thursday, January 29th. Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Finally, JPMorgan Chase & Co. boosted their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Sixteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $995.37.

About Parker-Hannifin

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.