Insider Selling: Robert W. Bond Sells 13,818 Shares of Parker-Hannifin Corp Stock (PH)
Parker-Hannifin Corp (NYSE:PH) VP Robert W. Bond sold 13,818 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $119.20, for a total value of $1,647,105.60. Following the completion of the transaction, the vice president now directly owns 51,683 shares of the company’s stock, valued at approximately $6,160,614. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Thomson Reuters/Verus upgraded shares of Parker-Hannifin Corp from a “sell” rating to a “hold” rating in a research note on Monday. Separately, analysts at MKM Partners upgraded shares of Parker-Hannifin Corp from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 5th. They now have a $130.00 price target on the stock. Finally, analysts at Argus raised their price target on shares of Parker-Hannifin Corp from $139.00 to $143.00 in a research note on Monday, January 27th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the stock. Parker-Hannifin Corp has a consensus rating of “Buy” and an average price target of $121.19.
Shares of Parker-Hannifin Corp (NYSE:PH) traded up 1.01% on Thursday, hitting $120.17. 872,023 shares of the company’s stock traded hands. Parker-Hannifin Corp has a 52-week low of $84.50 and a 52-week high of $129.77. The stock has a 50-day moving average of $119.1 and a 200-day moving average of $114.2. The company has a market cap of $17.921 billion and a price-to-earnings ratio of 17.57.
Parker-Hannifin Corp (NYSE:PH) last released its earnings data on Wednesday, January 22nd. The company reported $1.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.23 by $0.43. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter last year, the company posted $1.19 earnings per share. Parker-Hannifin Corp’s revenue was up 1.3% compared to the same quarter last year. Analysts expect that Parker-Hannifin Corp will post $6.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 7th. Shareholders of record on Monday, February 10th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend is Thursday, February 6th. This is a positive change from Parker-Hannifin Corp’s previous quarterly dividend of $0.45.
Parker-Hannifin Corporation (NYSE:PH) is a full-line diversified manufacturer of motion and control technologies and systems, including fluid power systems, electromechanical controls and related components.
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