Insider Selling: Parker-Hannifin (NYSE:PH) VP Sells $1,379,021.36 in Stock

Parker-Hannifin Corporation (NYSE:PH) VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the sale, the vice president directly owned 2,580 shares in the company, valued at $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Berend Bracht also recently made the following trade(s):

• On Wednesday, November 12th, Berend Bracht sold 3,507 shares of Parker-Hannifin stock. The shares were sold at an average price of $864.58, for a total value of $3,032,082.06.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $977.70 on Friday. The stock has a market capitalization of $123.41 billion, a PE ratio of 35.66, a PEG ratio of 3.30 and a beta of 1.25. The business’s 50 day simple moving average is $908.41 and its 200 day simple moving average is $814.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $989.13.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating 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 business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the firm posted $6.53 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PH. Robert W. Baird set a $1,050.00 target price on Parker-Hannifin in a research report on Friday, January 30th. Argus reaffirmed a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a research note on Monday, November 10th. Barclays lifted their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, BNP Paribas Exane assumed coverage on Parker-Hannifin in a research note on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price target for the company. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $990.47.

Hedge Funds Weigh In On Parker-Hannifin

A number of hedge funds and other institutional investors have recently modified their holdings of PH. Vanguard Group Inc. lifted its holdings in Parker-Hannifin by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after acquiring an additional 33,606 shares during the period. Procyon Advisors LLC raised its stake in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after purchasing an additional 5,066,179 shares during the period. Bank of America Corp DE boosted its holdings in shares of Parker-Hannifin by 0.6% in the 3rd quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company’s stock worth $2,960,266,000 after buying an additional 22,706 shares during the last quarter. Capital World Investors grew its position in Parker-Hannifin by 7.0% during the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after buying an additional 169,073 shares during the period. Finally, Invesco Ltd. increased its holdings in Parker-Hannifin by 1.8% during the second quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock worth $1,638,556,000 after buying an additional 41,221 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

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.