Andrew Ross Sells 4,664 Shares of Parker-Hannifin (NYSE:PH) Stock

Parker-Hannifin Corporation (NYSE:PH) COO Andrew Ross sold 4,664 shares of the business’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 transaction 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 trade represents a 26.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Parker-Hannifin Stock Up 1.9%

NYSE PH traded up $19.09 on Friday, hitting $1,001.30. The stock had a trading volume of 582,353 shares, compared to its average volume of 692,454. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,012.49. The business’s fifty day moving average price is $918.20 and its 200 day moving average price is $822.11. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The stock has a market cap of $126.38 billion, a price-to-earnings ratio of 36.52, a price-to-earnings-growth ratio of 3.21 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the company posted $6.53 EPS. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Hedge Funds Weigh In On Parker-Hannifin

A number of large investors have recently bought and sold shares of PH. Vanguard Group Inc. raised its stake in shares of Parker-Hannifin by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after buying an additional 33,606 shares during the period. Procyon Advisors LLC lifted its stake in Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Bank of America Corp DE increased its stake in Parker-Hannifin by 0.6% during the 3rd quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock worth $2,960,266,000 after buying an additional 22,706 shares in the last quarter. Capital World Investors raised its holdings in shares of Parker-Hannifin by 0.6% during the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after acquiring an additional 16,703 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Parker-Hannifin by 1.8% in the second quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock worth $1,638,556,000 after acquiring an additional 41,221 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Truist Financial set a $1,139.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Jefferies Financial Group lifted their price target on 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. iA Financial set a $1,032.00 price target on Parker-Hannifin in a research note on Thursday, January 29th. Stifel Nicolaus raised their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Finally, Argus reissued a “buy” rating and set a $900.00 price target on shares of Parker-Hannifin in a research 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $990.47.

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.