Insider Selling: Parker-Hannifin Co. (NYSE:PH) VP Sells 2,978 Shares of Stock

Parker-Hannifin Co. (NYSE:PHGet Free Report) VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $514.21 on Thursday. The stock’s 50 day moving average is $461.36 and its 200 day moving average is $423.28. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a twelve month low of $300.86 and a twelve month high of $517.51. The company has a market capitalization of $66.07 billion, a P/E ratio of 25.46, a PEG ratio of 1.99 and a beta of 1.50.

Parker-Hannifin (NYSE:PHGet Free Report) last issued its earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the business posted $4.76 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. On average, equities research analysts predict that Parker-Hannifin Co. will post 24.15 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be paid a dividend of $1.48 per share. The ex-dividend date is Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.15%. Parker-Hannifin’s dividend payout ratio is 29.31%.

Analysts Set New Price Targets

PH has been the subject of a number of recent analyst reports. Barclays upped their price target on Parker-Hannifin from $500.00 to $558.00 and gave the company an “overweight” rating in a research report on Monday. Stifel Nicolaus reaffirmed a “buy” rating and set a $500.00 price target on shares of Parker-Hannifin in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft raised Parker-Hannifin from a “hold” rating to a “buy” rating and upped their price target for the company from $462.00 to $506.00 in a research report on Thursday, November 9th. KeyCorp upped their price target on Parker-Hannifin from $500.00 to $575.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Parker-Hannifin in a report on Monday, December 11th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $480.93.

Read Our Latest Research Report on PH

Institutional Trading of Parker-Hannifin

Institutional investors have recently added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. bought a new position in shares of Parker-Hannifin during the 4th quarter valued at $26,000. OFI Invest Asset Management bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at $25,000. Baystate Wealth Management LLC lifted its holdings in shares of Parker-Hannifin by 233.3% during the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares during the period. DHJJ Financial Advisors Ltd. bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at $29,000. Finally, First Capital Advisors Group LLC. bought a new position in shares of Parker-Hannifin during the 2nd quarter valued at $30,000. 82.25% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Company Profile

(Get Free Report)

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.

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