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 firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Parker-Hannifin Stock Performance

NYSE PH opened at $560.69 on Friday. The firm has a 50-day moving average price of $546.21 and a two-hundred day moving average price of $486.88. Parker-Hannifin Co. has a 12-month low of $319.14 and a 12-month high of $570.15. The company has a market capitalization of $72.07 billion, a P/E ratio of 26.42, a P/E/G 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 (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the previous year, the company posted $5.93 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts anticipate that Parker-Hannifin Co. will post 24.62 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is 30.73%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PH. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Argus upped their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Monday. Evercore ISI lifted their target price on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. KeyCorp increased their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, Mizuho raised their price target on Parker-Hannifin from $490.00 to $550.00 and gave the company a “neutral” rating in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $548.53.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PH. FMR LLC increased its stake in shares of Parker-Hannifin by 9.6% in the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after purchasing an additional 324,063 shares during the last quarter. Invesco Ltd. raised its stake in Parker-Hannifin by 1.8% during the third quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock worth $1,134,069,000 after acquiring an additional 52,739 shares in the last quarter. Norges Bank acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $665,188,000. Northern Trust Corp boosted its position in Parker-Hannifin by 2.9% during the 3rd quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock worth $510,320,000 after buying an additional 36,744 shares during the period. Finally, Alphinity Investment Management Pty Ltd grew its holdings in Parker-Hannifin by 42.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock worth $521,861,000 after acquiring an additional 336,370 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

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.