Insider Selling: Thomas A. Piraino Sells 3,840 Shares of Parker-Hannifin Stock (PH)
Parker-Hannifin (NYSE:PH) major shareholder Thomas A. Piraino sold 3,840 shares of the company’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $128.71, for a total transaction of $494,246.40. Following the completion of the transaction, the insider now directly owns 7,715 shares of the company’s stock, valued at approximately $992,998. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of Parker-Hannifin (NYSE:PH) traded down 1.61% on Thursday, hitting $126.82. The stock had a trading volume of 727,601 shares. Parker-Hannifin has a 52-week low of $92.08 and a 52-week high of $130.44. The stock’s 50-day moving average is $124.9 and its 200-day moving average is $121.. The company has a market cap of $18.888 billion and a P/E ratio of 19.29.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Tuesday, April 29th. The company reported $1.88 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.65 by $0.23. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter last year, the company posted $1.68 earnings per share. Parker-Hannifin’s revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that Parker-Hannifin will post $6.52 earnings per share for the current fiscal year.
A number of research firms have recently commented on PH. Analysts at Zacks reiterated a “neutral” rating on shares of Parker-Hannifin in a research note on Thursday, May 29th. They now have a $131.00 price target on the stock. Separately, analysts at S&P Equity Research upgraded shares of Parker-Hannifin to a “hold” rating in a research note on Wednesday, April 30th. Finally, analysts at MKM Partners raised their price target on shares of Parker-Hannifin from $130.00 to $135.00 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $124.33.
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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