Insider Selling: Parker-Hannifin Co. (NYSE:PH) VP Sells 5,877 Shares of Stock

Parker-Hannifin Co. (NYSE:PH) VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now directly owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Parker-Hannifin Trading Up 8.5 %

PH stock opened at $709.23 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 52-week low of $401.31 and a 52-week high of $709.63. The company’s 50-day simple moving average is $620.09 and its 200-day simple moving average is $567.76. The firm has a market cap of $91.26 billion, a P/E ratio of 32.03, a PEG ratio of 2.57 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $5.96 earnings per share. As a group, equities analysts forecast that Parker-Hannifin Co. will post 26.84 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Evercore ISI increased their target price on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. TD Cowen boosted their price target on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Finally, Raymond James boosted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $673.14.

Institutional Investors Weigh In On Parker-Hannifin

Large investors have recently modified their holdings of the business. TD Asset Management Inc boosted its position in shares of Parker-Hannifin by 152.1% during the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after purchasing an additional 79,774 shares during the period. Concurrent Investment Advisors LLC lifted its position in shares of Parker-Hannifin by 261.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 1,819 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Parker-Hannifin by 54.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock worth $9,540,000 after purchasing an additional 6,029 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Parker-Hannifin during the 1st quarter worth about $4,638,000. Finally, UniSuper Management Pty Ltd raised its position in shares of Parker-Hannifin by 198.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,441 shares of the industrial products company’s stock worth $1,912,000 after acquiring an additional 2,289 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

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.