Parker-Hannifin Co. (NYSE:PH) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 176.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 438,126 shares of the industrial products company's stock after purchasing an additional 279,480 shares during the quarter. Assenagon Asset Management S.A. owned about 0.34% of Parker-Hannifin worth $278,661,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. West Branch Capital LLC purchased a new position in Parker-Hannifin during the 3rd quarter worth $25,000. Bangor Savings Bank raised its holdings in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC lifted its position in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in Parker-Hannifin in the 4th quarter valued at approximately $35,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin in the 3rd quarter valued at approximately $39,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Joseph R. Leonti sold 5,877 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company's stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock worth $12,303,829 in the last 90 days. 0.39% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. UBS Group started coverage on Parker-Hannifin in a report on Wednesday, November 13th. They issued a "buy" rating and a $842.00 price target for the company. Stifel Nicolaus downgraded Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 target price for the company. in a report on Monday, November 18th. KeyCorp upped their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Robert W. Baird raised their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $770.00 to $710.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $722.94.

Parker-Hannifin Trading Up 1.4 %

NYSE:PH traded up $9.07 on Wednesday, reaching $656.08. The stock had a trading volume of 701,202 shares, compared to its average volume of 569,644. Parker-Hannifin Co. has a 12-month low of $453.18 and a 12-month high of $712.42. The company has a market cap of $84.45 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 2.71 and a beta of 1.45. The firm's fifty day moving average is $673.15 and its two-hundred day moving average is $616.80. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the business earned $5.96 earnings per share. Parker-Hannifin's revenue was up 1.2% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin's payout ratio is 29.45%.

Parker-Hannifin Company Profile

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.