Insider Selling: Parker-Hannifin VP Sells 5,468 Shares of Stock (PH)
Parker-Hannifin (NYSE:PH) VP Jeffery A. Cullman sold 5,468 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $115.17, for a total transaction of $629,749.56. The sale was disclosed in a filing with the SEC, which is available at this link.
PH has been the subject of a number of recent research reports. 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 analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Parker-Hannifin currently has an average rating of “Buy” and an average target price of $133.92.
Parker-Hannifin (NYSE:PH) traded down 0.61% during mid-day trading on Thursday, hitting $117.08. The stock had a trading volume of 419,605 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 $119.0 and a 200-day moving average of $121.4. The company has a market cap of $17.441 billion and a price-to-earnings ratio of 17.15.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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. Analysts expect that Parker-Hannifin will post $7.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 12th. Shareholders of record on Thursday, August 28th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend 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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