Insider Selling: Parker-Hannifin (NYSE:PH) CFO Sells $2,066,825.08 in Stock

Parker-Hannifin Corporation (NYSE:PH) CFO Todd Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Parker-Hannifin Trading Up 1.9%

Parker-Hannifin stock opened at $1,001.30 on Monday. The firm has a market cap of $126.38 billion, a PE ratio of 36.52, a P/E/G ratio of 3.23 and a beta of 1.25. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $1,012.49. The stock’s 50 day simple moving average is $920.62 and its two-hundred day simple moving average is $825.21. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

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

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be given 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 dividend payout ratio is currently 26.26%.

Analyst Ratings Changes

A number of equities analysts have weighed in on PH shares. KeyCorp restated an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. Morgan Stanley restated a “positive” rating on shares of Parker-Hannifin in a research report on Wednesday, January 14th. Argus reaffirmed a “buy” rating and issued a $900.00 price target on shares of Parker-Hannifin in a research note on Monday, November 10th. Jefferies Financial Group increased their target price on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Wells Fargo & Company lifted their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Seventeen equities 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $990.47.

Institutional Trading of Parker-Hannifin

Hedge funds have recently made changes to their positions in the company. Texas Capital Bancshares Inc TX purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Chilton Capital Management LLC purchased a new stake in Parker-Hannifin in the third quarter valued at $29,000. HFM Investment Advisors LLC lifted its stake in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 30 shares during the last quarter. Interchange Capital Partners LLC purchased a new position in shares of Parker-Hannifin during the 2nd quarter worth $31,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

About Parker-Hannifin

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.