Parker-Hannifin (NYSE:PH) VP Sells $1,250,265.80 in Stock

Parker-Hannifin Corporation (NYSE:PH) VP Dinu Parel sold 1,316 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the sale, the vice president directly owned 6,534 shares of the company’s stock, valued at approximately $6,207,626.70. The trade was a 16.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Parker-Hannifin Price Performance

PH traded up $4.03 during midday trading on Wednesday, hitting $968.36. 956,510 shares of the company traded hands, compared to its average volume of 698,883. The business has a 50 day simple moving average of $901.84 and a two-hundred day simple moving average of $810.94. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $979.44. The company has a market capitalization of $122.23 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 3.25 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the firm earned $6.53 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be paid a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin’s payout ratio is currently 26.26%.

Hedge Funds Weigh In On Parker-Hannifin

A number of institutional investors have recently bought and sold shares of PH. Biltmore Family Office LLC increased its holdings in shares of Parker-Hannifin by 18.1% during the 4th quarter. Biltmore Family Office LLC now owns 2,596 shares of the industrial products company’s stock worth $2,282,000 after buying an additional 398 shares during the last quarter. Summit Wealth Group LLC Co. acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $363,000. Ameritas Advisory Services LLC grew its position in Parker-Hannifin by 751.6% in the fourth quarter. Ameritas Advisory Services LLC now owns 1,814 shares of the industrial products company’s stock worth $1,595,000 after acquiring an additional 1,601 shares during the period. World Investment Advisors grew its position in Parker-Hannifin by 47.1% in the fourth quarter. World Investment Advisors now owns 2,848 shares of the industrial products company’s stock worth $2,503,000 after acquiring an additional 912 shares during the period. Finally, Boyd Watterson Asset Management LLC OH increased its stake in Parker-Hannifin by 1.6% during the fourth quarter. Boyd Watterson Asset Management LLC OH now owns 5,676 shares of the industrial products company’s stock worth $4,989,000 after acquiring an additional 92 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on PH shares. Mizuho raised their price objective on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Robert W. Baird set a $1,050.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Jefferies Financial Group boosted their price target on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Finally, Argus reiterated a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a report on Monday, November 10th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $990.47.

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.