Parker-Hannifin Corp (PH) Director Candy M. Obourn Sells 1,241 Shares
Parker-Hannifin Corp (NYSE:PH) Director Candy M. Obourn sold 1,241 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $161.46, for a total value of $200,371.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Parker-Hannifin Corp (PH) traded up 1.55% during trading on Friday, hitting $161.33. The stock had a trading volume of 610,414 shares. Parker-Hannifin Corp has a 1-year low of $118.77 and a 1-year high of $167.50. The company has a market capitalization of $21.48 billion, a P/E ratio of 22.25 and a beta of 1.41. The firm has a 50-day moving average of $160.82 and a 200 day moving average of $159.25.
Parker-Hannifin Corp (NYSE:PH) last released its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corp had a net margin of 8.39% and a return on equity of 23.52%. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the prior year, the firm earned $1.90 EPS. The company’s revenue was up 18.2% compared to the same quarter last year. Equities research analysts predict that Parker-Hannifin Corp will post $9.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Monday, August 28th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, August 24th. Parker-Hannifin Corp’s dividend payout ratio is currently 36.51%.
Several institutional investors have recently added to or reduced their stakes in PH. BlackRock Inc. grew its position in shares of Parker-Hannifin Corp by 2,619.0% during the 1st quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock valued at $1,309,223,000 after acquiring an additional 7,865,974 shares during the period. FMR LLC grew its position in shares of Parker-Hannifin Corp by 1,163.3% during the 1st quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock valued at $281,346,000 after acquiring an additional 1,615,987 shares during the period. Jennison Associates LLC grew its position in shares of Parker-Hannifin Corp by 28.5% during the 2nd quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock valued at $963,146,000 after acquiring an additional 1,336,541 shares during the period. Voya Investment Management LLC grew its position in shares of Parker-Hannifin Corp by 1,175.0% during the 2nd quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock valued at $215,499,000 after acquiring an additional 1,242,624 shares during the period. Finally, Koch Industries Inc. bought a new position in shares of Parker-Hannifin Corp during the 2nd quarter valued at approximately $521,000. 80.24% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have recently weighed in on PH shares. Jefferies Group LLC set a $163.00 price target on Parker-Hannifin Corp and gave the company a “hold” rating in a research note on Wednesday, June 28th. BidaskClub downgraded Parker-Hannifin Corp from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus reissued a “buy” rating and issued a $176.00 price target on shares of Parker-Hannifin Corp in a research note on Thursday, July 6th. J P Morgan Chase & Co set a $175.00 price target on Parker-Hannifin Corp and gave the company a “buy” rating in a research note on Thursday, May 18th. Finally, ValuEngine raised Parker-Hannifin Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. Parker-Hannifin Corp currently has a consensus rating of “Buy” and an average target price of $172.06.
Parker-Hannifin Corp Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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