Parker-Hannifin Co. (NYSE:PH) VP Berend Bracht Sells 1,079 Shares

Parker-Hannifin Co. (NYSE:PH) VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $554.67 on Thursday. The firm has a 50 day simple moving average of $545.73 and a 200-day simple moving average of $486.41. The stock has a market cap of $71.30 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 1.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. Parker-Hannifin Co. has a 1-year low of $319.14 and a 1-year high of $570.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping 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 company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the business posted $5.93 earnings per share. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. On average, analysts expect that Parker-Hannifin Co. will post 24.62 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued a $1.63 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s payout ratio is 30.73%.

Institutional Trading of Parker-Hannifin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in shares of Parker-Hannifin in the third quarter valued at approximately $25,000. Sachetta LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $25,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at about $26,000. Baystate Wealth Management LLC boosted its stake in shares of Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares during the period. Finally, First United Bank & Trust acquired a new position in shares of Parker-Hannifin during the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PH. Argus raised their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Monday. Stifel Nicolaus lifted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Barclays reduced their price objective on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Finally, Truist Financial increased their target price on shares of Parker-Hannifin from $602.00 to $611.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $539.56.

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.