Parker-Hannifin (NYSE:PH) COO Andrew Ross Sells 4,664 Shares

Parker-Hannifin Corporation (NYSE:PH) COO Andrew Ross sold 4,664 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total value of $4,659,336.00. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at $13,106,880. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Parker-Hannifin Trading Up 1.9%

Shares of NYSE:PH opened at $1,001.30 on Friday. The stock has a 50 day moving average of $920.62 and a 200 day moving average of $823.93. The company has a market cap of $126.38 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $1,012.49. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

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

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be given a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s payout ratio is presently 26.26%.

Wall Street Analysts Forecast Growth

PH has been the topic of several recent analyst reports. Mizuho lifted their target price on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Truist Financial set a $1,139.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Argus reiterated a “buy” rating and set a $900.00 price objective on shares of Parker-Hannifin in a research report on Monday, November 10th. Wells Fargo & Company upped their target price on shares of 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. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $990.47.

Hedge Funds Weigh In On Parker-Hannifin

Several institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC lifted its position in shares of Parker-Hannifin by 0.9% in the 4th quarter. Kestra Advisory Services LLC now owns 619,041 shares of the industrial products company’s stock worth $544,113,000 after acquiring an additional 5,412 shares during the period. Avos Capital Management LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at $220,000. Marshall Wace LLP boosted its stake in Parker-Hannifin by 21,989.0% during the fourth quarter. Marshall Wace LLP now owns 84,601 shares of the industrial products company’s stock worth $74,361,000 after buying an additional 84,218 shares in the last quarter. Johnson Investment Counsel Inc. increased its holdings in Parker-Hannifin by 44.7% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,879 shares of the industrial products company’s stock valued at $3,410,000 after buying an additional 1,198 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its stake in shares of Parker-Hannifin by 29.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 83,135 shares of the industrial products company’s stock valued at $73,113,000 after buying an additional 18,771 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

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.