Assetmark Inc. Boosts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Assetmark Inc. lifted its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 4.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 21,458 shares of the industrial products company's stock after buying an additional 816 shares during the period. Assetmark Inc.'s holdings in Parker-Hannifin were worth $13,558,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PH. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at approximately $25,000. Bangor Savings Bank raised its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Addison Advisors LLC purchased a new position in shares of Parker-Hannifin during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at approximately $39,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

PH stock traded up $12.57 during trading on Monday, hitting $708.15. 545,621 shares of the company's stock traded hands, compared to its average volume of 647,039. Parker-Hannifin Co. has a 52 week low of $415.97 and a 52 week high of $711.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The business has a fifty day simple moving average of $623.97 and a 200 day simple moving average of $569.99. The stock has a market capitalization of $91.15 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 2.80 and a beta of 1.43.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during 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 quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts expect that Parker-Hannifin Co. will post 26.79 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin's dividend payout ratio is currently 29.45%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PH. Raymond James upped their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a report on Friday, August 9th. StockNews.com raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, October 12th. Evercore ISI upped their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a report on Monday, August 19th. Finally, Robert W. Baird upped their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $673.14.

Insider Activity

In related news, Director Joseph Scaminace sold 1,751 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,678 shares of company stock valued at $13,840,428. 0.39% of the stock is currently owned by company insiders.

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.