Assenagon Asset Management S.A. acquired a new stake in Parker-Hannifin Corp (NYSE:PH) in the third quarter, HoldingsChannel reports. The firm acquired 8,881 shares of the industrial products company’s stock, valued at approximately $1,604,000.

Several other large investors have also recently bought and sold shares of the company. Longview Partners Guernsey LTD raised its position in shares of Parker-Hannifin by 10.2% in the second quarter. Longview Partners Guernsey LTD now owns 6,642,630 shares of the industrial products company’s stock valued at $1,129,314,000 after buying an additional 616,196 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Parker-Hannifin by 14.5% in the second quarter. JPMorgan Chase & Co. now owns 4,912,823 shares of the industrial products company’s stock valued at $827,567,000 after buying an additional 622,437 shares during the last quarter. Beutel Goodman & Co Ltd. raised its position in shares of Parker-Hannifin by 99.3% in the second quarter. Beutel Goodman & Co Ltd. now owns 2,529,745 shares of the industrial products company’s stock valued at $326,638,000 after buying an additional 1,260,312 shares during the last quarter. Nuveen Asset Management LLC raised its position in shares of Parker-Hannifin by 1,570.0% in the second quarter. Nuveen Asset Management LLC now owns 2,260,165 shares of the industrial products company’s stock valued at $384,251,000 after buying an additional 2,124,824 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. raised its position in shares of Parker-Hannifin by 3.5% in the second quarter. Charles Schwab Investment Advisory Inc. now owns 1,529,846 shares of the industrial products company’s stock valued at $260,089,000 after buying an additional 51,709 shares during the last quarter. 80.65% of the stock is owned by institutional investors and hedge funds.

In other Parker-Hannifin news, Director Linda S. Harty acquired 3,000 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $158.39 per share, with a total value of $475,170.00. Following the completion of the transaction, the director now directly owns 13,243 shares of the company’s stock, valued at $2,097,558.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Andrew M. Weeks sold 1,732 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $180.64, for a total transaction of $312,868.48. Following the completion of the sale, the vice president now directly owns 15,257 shares of the company’s stock, valued at approximately $2,756,024.48. The disclosure for this sale can be found here. Insiders have sold 59,234 shares of company stock valued at $10,722,479 in the last ninety days. 1.23% of the stock is currently owned by company insiders.

PH has been the subject of a number of analyst reports. Wells Fargo & Co lowered shares of Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $175.00 price objective for the company. in a research report on Wednesday, July 10th. Stifel Nicolaus cut their price objective on shares of Parker-Hannifin from $176.00 to $174.00 and set a “hold” rating for the company in a research report on Monday, October 7th. Bank of America lowered shares of Parker-Hannifin from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. Goldman Sachs Group lowered shares of Parker-Hannifin from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $178.00 to $150.00 in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. lowered shares of Parker-Hannifin from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $186.00 to $169.00 in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $175.60.

Shares of PH stock opened at $184.54 on Monday. Parker-Hannifin Corp has a one year low of $140.82 and a one year high of $190.97. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.90 and a current ratio of 2.43. The company has a 50 day moving average price of $175.61 and a 200 day moving average price of $171.63. The firm has a market capitalization of $23.56 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.70 and a beta of 1.57.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $3.31 EPS for the quarter, topping the consensus estimate of $3.09 by $0.22. Parker-Hannifin had a net margin of 10.56% and a return on equity of 26.11%. The firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the business posted $3.22 earnings per share. Parker-Hannifin’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts forecast that Parker-Hannifin Corp will post 11.77 EPS for the current fiscal year.

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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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