Parker-Hannifin Co. (NYSE:PH) VP Sells $306,872.28 in Stock

Parker-Hannifin Co. (NYSE:PH) VP Jay Reidy sold 572 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the sale, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Parker-Hannifin Stock Down 0.1 %

Shares of NYSE:PH traded down $0.61 during mid-day trading on Tuesday, reaching $550.18. 459,041 shares of the stock were exchanged, compared to its average volume of 605,391. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a market cap of $70.65 billion, a P/E ratio of 26.15, a P/E/G ratio of 1.94 and a beta of 1.51. Parker-Hannifin Co. has a one year low of $319.14 and a one year high of $570.15. The stock’s 50 day simple moving average is $545.36 and its 200-day simple moving average is $485.16.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. Parker-Hannifin’s quarterly revenue was up .3% on a year-over-year basis. During the same period last year, the company earned $5.93 earnings per share. As a group, equities research analysts predict that Parker-Hannifin Co. will post 24.62 EPS for the current year.

Parker-Hannifin Increases Dividend

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

Analyst Ratings Changes

PH has been the topic of a number of analyst reports. Argus upped their price target on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday. KeyCorp upped their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price target for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Evercore ISI upped their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Finally, Wells Fargo & Company lowered their price target on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $539.56.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Fidelis Capital Partners LLC grew its stake in Parker-Hannifin by 2.3% in the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 19 shares in the last quarter. Harbor Investment Advisory LLC grew its stake 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 valued at $29,000 after purchasing an additional 20 shares in the last quarter. GoalVest Advisory LLC grew its stake in Parker-Hannifin by 40.0% in the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 20 shares in the last quarter. Essex Financial Services Inc. grew its stake in Parker-Hannifin by 4.3% in the first quarter. Essex Financial Services Inc. now owns 539 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 22 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. grew its stake in Parker-Hannifin by 0.8% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after purchasing an additional 24 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

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.