Insider Selling: Parker-Hannifin (NYSE:PH) VP Sells 1,316 Shares of Stock

Parker-Hannifin Corporation (NYSE:PH) VP Dinu Parel sold 1,316 shares of the firm’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 transaction, the vice president directly owned 6,534 shares of the company’s stock, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Parker-Hannifin Stock Performance

Shares of PH traded up $4.03 during trading hours on Wednesday, reaching $968.36. 956,510 shares of the company traded hands, compared to its average volume of 698,883. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average price of $901.84 and a 200-day moving average price of $810.94. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $979.44. The stock has a market capitalization of $122.23 billion, a P/E ratio of 35.32, a P/E/G ratio of 3.25 and a beta of 1.25.

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

Parker-Hannifin Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on the stock. BNP Paribas Exane started coverage on shares of Parker-Hannifin in a research note on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price objective for the company. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday. Argus reaffirmed a “buy” rating and issued a $900.00 price target on shares of Parker-Hannifin in a report on Monday, November 10th. Wells Fargo & Company increased their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Stifel Nicolaus boosted their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a report on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $990.47.

Institutional Investors Weigh In On Parker-Hannifin

Hedge funds have recently modified their holdings of the company. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin in the 3rd quarter valued at about $25,000. Chilton Capital Management LLC purchased a new position in Parker-Hannifin during the third quarter worth approximately $29,000. Interchange Capital Partners LLC acquired a new stake in Parker-Hannifin in the second quarter valued at approximately $31,000. Ameriflex Group Inc. increased its position in shares of Parker-Hannifin by 366.7% in the third quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock valued at $32,000 after buying an additional 33 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its position in shares of Parker-Hannifin by 80.0% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after buying an additional 16 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Company 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.