Insider Selling: Parker-Hannifin (NYSE:PH) VP Sells $1,250,265.80 in Stock

Parker-Hannifin Corporation (NYSE:PH) VP Dinu Parel sold 1,316 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the sale, the vice president owned 6,534 shares in the company, valued at $6,207,626.70. This represents a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Parker-Hannifin Price Performance

PH opened at $977.70 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a market cap of $123.41 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 3.30 and a beta of 1.25. The stock has a fifty day simple moving average of $908.41 and a two-hundred day simple moving average of $814.97. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $989.13.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period in the prior year, the firm earned $6.53 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. Research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be paid a dividend of $1.80 per share. The ex-dividend date is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s payout ratio is presently 26.26%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PH. Citigroup raised their price target on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a report on Friday, January 30th. Argus reaffirmed a “buy” rating and issued a $900.00 target price on shares of Parker-Hannifin in a report on Monday, November 10th. JPMorgan Chase & Co. increased their price target on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, January 30th. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a report on Thursday, January 29th. Finally, Morgan Stanley reissued a “positive” rating on shares of Parker-Hannifin in a report on Wednesday, January 14th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $990.47.

Institutional Trading of Parker-Hannifin

Several large investors have recently added to or reduced their stakes in PH. Texas Capital Bancshares Inc TX bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $25,000. Chilton Capital Management LLC bought a new stake in Parker-Hannifin during the third quarter valued at about $29,000. HFM Investment Advisors LLC increased its position in Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after buying an additional 30 shares in the last quarter. Interchange Capital Partners LLC bought a new position in shares of Parker-Hannifin in the second quarter worth about $31,000. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at about $31,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.