Berend Bracht Sells 1,079 Shares of Parker-Hannifin Co. (NYSE:PH) Stock

Parker-Hannifin Co. (NYSE:PH) VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Parker-Hannifin Trading Up 0.8 %

Shares of NYSE:PH opened at $554.67 on Thursday. The stock’s 50-day simple moving average is $545.73 and its two-hundred day simple moving average is $486.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The stock has a market capitalization of $71.30 billion, a price-to-earnings ratio of 26.14, a PEG ratio of 1.94 and a beta of 1.51. Parker-Hannifin Co. has a 52-week low of $319.14 and a 52-week high of $570.15.

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

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be given a $1.63 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently modified their holdings of PH. Harbor Investment Advisory LLC grew its position in shares of Parker-Hannifin by 60.6% during 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 bought a new position in shares of Parker-Hannifin during the fourth quarter worth $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin during the first quarter valued at about $31,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Parker-Hannifin in the fourth quarter worth about $26,000. Finally, First United Bank & Trust purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth about $29,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a report on Monday. Argus increased their target price on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday. KeyCorp upped their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Evercore ISI raised their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Finally, Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $539.56.

About Parker-Hannifin

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.