Parker-Hannifin Co. (NYSE:PH) VP Sells $592,209.15 in Stock

Parker-Hannifin Co. (NYSE:PH) VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Parker-Hannifin Stock Performance

Shares of PH stock traded down $0.61 during mid-day trading on Tuesday, reaching $550.18. 459,041 shares of the company’s stock traded hands, compared to its average volume of 605,391. Parker-Hannifin Co. has a 12 month low of $319.14 and a 12 month high of $570.15. The firm has a 50 day moving average price of $545.36 and a two-hundred day moving average price of $485.16. The firm has a market capitalization of $70.65 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 1.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the business posted $5.93 earnings per share. The business’s quarterly revenue was up .3% on a year-over-year basis. On average, research analysts forecast that Parker-Hannifin Co. will post 24.62 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 annualized dividend and a yield of 1.19%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is currently 27.90%.

Wall Street Analyst Weigh In

PH has been the subject of several recent research reports. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Barclays lowered their price target on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a research report on Friday. Evercore ISI upped their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, KeyCorp upped their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $539.56.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbor Investment Advisory LLC lifted its position in shares of Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after buying an additional 20 shares in the last quarter. Sachetta LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin during the 1st quarter valued at approximately $31,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $26,000. Finally, First United Bank & Trust bought a new stake in Parker-Hannifin in the fourth quarter worth $29,000. Institutional investors own 82.44% of the company’s stock.

About Parker-Hannifin

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.