Assetmark Inc. Has $24.78 Million Holdings in Parker-Hannifin Corporation $PH

Key Points

• Assetmark Inc. reduced its stake in Parker‑Hannifin by 23.3% in Q4, leaving it with 28,197 shares valued at about $24.78 million.
• Insiders have been selling: COO Andrew Ross sold 4,664 shares (~$4.66M) and VP Berend Bracht sold 1,457 shares (~$1.38M), with insiders offloading 10,063 shares (~$9.89M) in the last 90 days and now owning 0.32% of the stock.
• Parker‑Hannifin reported an EPS beat ($7.65 vs. $7.11) with revenue up 9.1%, trades near $965 (market cap ~$121.8B), and carries a consensus analyst rating of "Moderate Buy" with an average target around $1,000.60.

Assetmark Inc. lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 23.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,197 shares of the industrial products company's stock after selling 8,563 shares during the quarter. Assetmark Inc.'s holdings in Parker-Hannifin were worth $24,784,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PH. ING Groep NV bought a new stake in shares of Parker-Hannifin in the third quarter valued at about $26,398,000. Procyon Advisors LLC lifted its holdings in shares of Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company's stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of Parker-Hannifin by 54.7% in the third quarter. Citigroup Inc. now owns 158,668 shares of the industrial products company's stock valued at $120,294,000 after purchasing an additional 56,103 shares in the last quarter. Wilkinson Global Asset Management LLC lifted its holdings in shares of Parker-Hannifin by 28.2% in the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company's stock valued at $36,720,000 after purchasing an additional 10,653 shares in the last quarter. Finally, Advisors Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 140.0% in the third quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company's stock valued at $1,693,000 after purchasing an additional 1,302 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 4,664 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer owned 13,120 shares of the company's stock, valued at approximately $13,106,880. This represents a 26.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 1,457 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the transaction, the vice president directly owned 2,580 shares in the company, valued at $2,441,918.40. The trade was a 36.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 10,063 shares of company stock valued at $9,891,214 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $964.59 on Thursday. The business's 50 day moving average price is $954.11 and its two-hundred day moving average price is $885.40. The company has a market cap of $121.75 billion, a PE ratio of 35.18, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a twelve month low of $538.08 and a twelve month high of $1,034.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts' consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.53 EPS. On average, analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given a $1.80 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. Parker-Hannifin's dividend payout ratio is presently 26.26%.

Analysts Set New Price Targets

A number of analysts have recently commented on PH shares. iA Financial set a $1,032.00 price target on Parker-Hannifin in a report on Thursday, January 29th. Morgan Stanley boosted their price target on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an "equal weight" rating in a report on Tuesday, February 24th. KeyCorp restated an "overweight" rating and issued a $1,100.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. JPMorgan Chase & Co. boosted their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an "overweight" rating in a report on Friday, January 30th. Finally, Jefferies Financial Group boosted their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a "buy" rating in a report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,000.60.

About Parker-Hannifin

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.

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