Assenagon Asset Management S.A. Decreases Position in Parker-Hannifin Co. (NYSE:PH)

Assenagon Asset Management S.A. cut its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 26.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 158,646 shares of the industrial products company's stock after selling 56,869 shares during the period. Assenagon Asset Management S.A. owned about 0.12% of Parker-Hannifin worth $100,236,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. IFM Investors Pty Ltd increased its holdings in Parker-Hannifin by 0.8% in the third quarter. IFM Investors Pty Ltd now owns 25,233 shares of the industrial products company's stock valued at $15,943,000 after purchasing an additional 207 shares during the period. Walker Asset Management LLC acquired a new stake in Parker-Hannifin in the third quarter valued at $202,000. Jackson Wealth Management LLC increased its holdings in Parker-Hannifin by 81.4% in the third quarter. Jackson Wealth Management LLC now owns 4,676 shares of the industrial products company's stock valued at $2,955,000 after purchasing an additional 2,098 shares during the period. Grimes & Company Inc. boosted its position in Parker-Hannifin by 6.1% during the third quarter. Grimes & Company Inc. now owns 433 shares of the industrial products company's stock valued at $274,000 after acquiring an additional 25 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH boosted its position in Parker-Hannifin by 14.4% during the third quarter. Boyd Watterson Asset Management LLC OH now owns 5,621 shares of the industrial products company's stock valued at $3,551,000 after acquiring an additional 706 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares of the company's stock, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares of the company's stock, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Scaminace sold 1,751 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares of the company's stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Parker-Hannifin Stock Performance

Shares of PH stock traded down $5.56 during trading hours on Thursday, hitting $624.14. 550,079 shares of the company were exchanged, compared to its average volume of 497,492. The firm has a fifty day simple moving average of $609.91 and a 200 day simple moving average of $561.47. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $646.60. The stock has a market capitalization of $80.31 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 2.55 and a beta of 1.43.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the business posted $6.08 EPS. Parker-Hannifin's quarterly revenue was up 1.8% compared to the same quarter last year. Research analysts predict that Parker-Hannifin Co. will post 26.68 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, November 8th. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.92%.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research analyst reports. KeyCorp upped their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Evercore ISI increased their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. TD Cowen increased their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a "hold" rating in a research report on Wednesday, September 11th. Truist Financial increased their price objective on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $660.57.

Parker-Hannifin 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.