Parker-Hannifin Co. (NYSE:PH) VP Jay Reidy Sells 572 Shares

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 transaction of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Parker-Hannifin Trading Down 0.1 %

NYSE PH opened at $550.14 on Wednesday. The firm has a market capitalization of $70.64 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.94 and a beta of 1.51. The business’s 50-day moving average price is $545.73 and its two-hundred day moving average price is $486.41. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 12 month low of $319.14 and a 12 month high of $570.15.

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

Parker-Hannifin Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 annualized dividend and a yield of 1.19%. Parker-Hannifin’s payout ratio is presently 27.90%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PH. Argus upped their target price on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company decreased their target price on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research report on Monday. Truist Financial increased their target price on shares of Parker-Hannifin from $602.00 to $611.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $539.56.

Institutional Trading of Parker-Hannifin

A number of large investors have recently bought and sold shares of the business. FMR LLC raised its holdings 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 worth $1,437,096,000 after acquiring an additional 324,063 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Parker-Hannifin by 1.8% in the third quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock valued at $1,134,069,000 after purchasing an additional 52,739 shares in the last quarter. Norges Bank purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $665,188,000. Northern Trust Corp raised its position in Parker-Hannifin by 2.9% in the 3rd quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock valued at $510,320,000 after buying an additional 36,744 shares during the last quarter. Finally, Alphinity Investment Management Pty Ltd lifted its stake 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 valued at $521,861,000 after acquiring an additional 336,370 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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.