Associated Banc Corp Grows Stake in Parker-Hannifin Co. (NYSE:PH)

Associated Banc Corp increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 3.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,618 shares of the industrial products company’s stock after purchasing an additional 54 shares during the period. Associated Banc Corp’s holdings in Parker-Hannifin were worth $1,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PH. Wilkinson Global Asset Management LLC grew its stake in Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after buying an additional 14,526 shares during the last quarter. Banco Santander S.A. lifted its stake in shares of Parker-Hannifin by 11.9% in the 3rd quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock valued at $9,147,000 after purchasing an additional 1,544 shares during the period. Swedbank AB purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth about $20,140,000. Ritholtz Wealth Management boosted its position in Parker-Hannifin by 88.4% during the third quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock worth $931,000 after purchasing an additional 691 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC grew its stake in Parker-Hannifin by 12.8% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 12,812 shares of the industrial products company’s stock valued at $7,121,000 after acquiring an additional 1,453 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.3 %

PH opened at $704.51 on Tuesday. The business’s 50 day moving average is $649.47 and its two-hundred day moving average is $581.74. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $712.42. The firm has a market cap of $90.68 billion, a price-to-earnings ratio of 31.82, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm earned $5.96 EPS. On average, research analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Wall Street Analysts Forecast Growth

PH has been the topic of several research analyst reports. Mizuho lifted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. UBS Group initiated coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective for the company. KeyCorp raised their target price on 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 boosted their price target 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, Deutsche Bank Aktiengesellschaft increased their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $691.40.

Insiders Place Their Bets

In other news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction 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 completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by corporate insiders.

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.