Assenagon Asset Management S.A. Buys 185,367 Shares of Parker-Hannifin Corporation $PH

Assenagon Asset Management S.A. lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 119.3% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 340,727 shares of the industrial products company’s stock after buying an additional 185,367 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Parker-Hannifin were worth $305,032,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin during the third quarter worth approximately $25,000. HFM Investment Advisors LLC grew its position in shares of Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $31,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 16 shares during the period. Finally, First Command Advisory Services Inc. lifted its holdings in Parker-Hannifin by 1,133.3% during the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PH shares. Evercore set a $1,064.00 price target on Parker-Hannifin in a research note on Monday, May 11th. Citigroup reissued a “buy” rating on shares of Parker-Hannifin in a report on Monday, June 8th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Sanford C. Bernstein assumed coverage on shares of Parker-Hannifin in a report on Tuesday, June 9th. They set an “outperform” rating and a $1,026.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.05.

Parker-Hannifin Stock Up 1.5%

Shares of NYSE PH opened at $961.72 on Thursday. The stock has a market capitalization of $121.26 billion, a P/E ratio of 35.47, a PEG ratio of 2.76 and a beta of 1.14. The stock’s fifty day moving average is $907.91 and its 200 day moving average is $923.73. Parker-Hannifin Corporation has a 52 week low of $672.22 and a 52 week high of $1,034.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping the consensus estimate of $7.84 by $0.33. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. Parker-Hannifin’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Sell-side analysts forecast that Parker-Hannifin Corporation will post 31.26 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 5th. Stockholders of record on Friday, May 8th were issued a dividend of $2.00 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.80. The ex-dividend date of this dividend was Friday, May 8th. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is currently 29.51%.

Parker-Hannifin Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.