Parker-Hannifin VP Sells $629,750 in Stock (PH)
Parker-Hannifin (NYSE:PH) VP Jeffery A. Cullman sold 5,468 shares of the stock on the open market in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $115.17, for a total value of $629,749.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, August 7th. They now have a $130.00 price target on the stock, down previously from $140.00. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, August 7th. They now have a $130.00 price target on the stock, down previously from $150.00. Finally, analysts at Stifel Nicolaus cut their price target on shares of Parker-Hannifin from $140.00 to $130.00 in a research note on Thursday, August 7th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $133.92.
Shares of Parker-Hannifin (NYSE:PH) traded up 0.65% on Tuesday, hitting $115.32. The stock had a trading volume of 760,286 shares. Parker-Hannifin has a 52 week low of $99.75 and a 52 week high of $130.44. The stock has a 50-day moving average of $119.4 and a 200-day moving average of $121.4. The company has a market cap of $17.179 billion and a price-to-earnings ratio of 16.68.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Wednesday, August 6th. The company reported $2.06 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.07 by $0.01. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.75 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, analysts predict that Parker-Hannifin will post $7.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Stockholders of record on Thursday, August 28th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, August 26th.
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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