Parker-Hannifin (NYSE:PH) CFO Todd Leombruno Sells 2,062 Shares

Parker-Hannifin Corporation (NYSE:PH) CFO Todd Leombruno sold 2,062 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Parker-Hannifin Stock Up 1.9%

PH opened at $1,001.30 on Friday. The stock has a fifty day moving average of $920.62 and a 200-day moving average of $823.93. The company has a market capitalization of $126.38 billion, a P/E ratio of 36.52, a P/E/G ratio of 3.17 and a beta of 1.25. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,012.49. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the prior year, the company posted $6.53 earnings per share. Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be issued a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Analysts Set New Price Targets

PH has been the topic of a number of analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Mizuho increased their target price on Parker-Hannifin from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Friday, October 17th. Wells Fargo & Company raised their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Citigroup upped their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Barclays raised their target price on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $990.47.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin in the third quarter valued at approximately $25,000. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin in the 3rd quarter valued at $29,000. HFM Investment Advisors LLC boosted its holdings in shares of Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 30 shares in the last quarter. Interchange Capital Partners LLC bought a new stake in Parker-Hannifin during the 2nd quarter worth $31,000. Finally, Lloyd Advisory Services LLC. acquired a new position in Parker-Hannifin in the 4th quarter worth about $31,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.