Parker-Hannifin Co. (NYSE:PH) VP Sells 572 Shares of Stock

Parker-Hannifin Co. (NYSE:PH) VP Jay Reidy sold 572 shares of the business’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 completion of the transaction, the vice president now owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Parker-Hannifin Stock Down 0.1 %

Shares of PH stock opened at $550.14 on Wednesday. The stock has a 50 day moving average of $545.73 and a 200-day moving average of $486.41. The firm has a market cap of $70.64 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.94 and a beta of 1.51. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 12 month low of $319.14 and a 12 month high of $570.15.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating the consensus estimate of $6.10 by $0.41. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.93 EPS. On average, equities analysts predict that Parker-Hannifin Co. will post 24.62 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a yield of 1.19%. Parker-Hannifin’s dividend payout ratio (DPR) is 27.90%.

Hedge Funds Weigh In On Parker-Hannifin

Several large investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC raised its position in Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares in the last quarter. Sachetta LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin during the 1st quarter worth approximately $31,000. Wetzel Investment Advisors Inc. acquired a new stake in Parker-Hannifin in the 4th quarter valued at $26,000. Finally, First United Bank & Trust bought a new stake in Parker-Hannifin in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research reports. Truist Financial increased their price objective on Parker-Hannifin from $602.00 to $611.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. KeyCorp lifted their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Wells Fargo & Company lowered their target price 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. Argus boosted 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, Barclays decreased their price target on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $539.56.

Parker-Hannifin Company Profile

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.