Parker-Hannifin Co. (NYSE:PH) VP Sells $306,872.28 in Stock

Parker-Hannifin Co. (NYSE:PH) VP Jay Reidy sold 572 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a document filed with the SEC, which is available at this link.

Parker-Hannifin Trading Up 1.3 %

Shares of PH opened at $560.69 on Friday. Parker-Hannifin Co. has a 1-year low of $319.14 and a 1-year high of $570.15. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $546.21 and its 200-day moving average price is $486.88. The firm has a market capitalization of $72.07 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.94 and a beta of 1.51.

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

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is 30.73%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $665,188,000. Alphinity Investment Management Pty Ltd bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth $310,208,000. FMR LLC raised its stake in shares of Parker-Hannifin by 9.6% in the third quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after purchasing an additional 324,063 shares during the last quarter. Kodai Capital Management LP purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $122,449,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Parker-Hannifin by 65,634.7% during the fourth quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock valued at $101,149,000 after purchasing an additional 219,220 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research report on Monday. Mizuho raised their price objective on Parker-Hannifin from $490.00 to $550.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. KeyCorp boosted their target price on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Argus raised their price target on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus lifted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $548.53.

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.