Insider Selling: Parker-Hannifin Corp (PH) VP Sells $350,472.00 in Stock
Parker-Hannifin Corp (NYSE:PH) VP Roger S. Sherrard sold 2,040 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $171.80, for a total value of $350,472.00. Following the completion of the sale, the vice president now owns 62,620 shares in the company, valued at $10,758,116. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
PH opened at $170.77 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.01 and a current ratio of 1.52. Parker-Hannifin Corp has a one year low of $140.82 and a one year high of $193.19. The stock has a market cap of $21.99 billion, a PE ratio of 16.39, a PEG ratio of 1.61 and a beta of 1.47.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 31st. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.41 by $0.10. Parker-Hannifin had a return on equity of 25.82% and a net margin of 9.69%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the company posted $2.15 earnings per share. As a group, equities research analysts anticipate that Parker-Hannifin Corp will post 11.65 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PH. Norges Bank purchased a new stake in Parker-Hannifin in the 4th quarter valued at approximately $357,950,000. Financial Advocates Investment Management boosted its holdings in Parker-Hannifin by 100,195.1% in the 4th quarter. Financial Advocates Investment Management now owns 183,540 shares of the industrial products company’s stock valued at $14,541,000 after purchasing an additional 183,357 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Parker-Hannifin in the 4th quarter valued at approximately $390,000. Delphi Management Inc. MA purchased a new stake in Parker-Hannifin in the 4th quarter valued at approximately $970,000. Finally, CWM Advisors LLC boosted its holdings in Parker-Hannifin by 13.2% in the 4th quarter. CWM Advisors LLC now owns 4,215 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 491 shares in the last quarter. 79.43% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the company. Barclays cut their price target on Parker-Hannifin from $186.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, December 17th. Vertical Research cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Friday, February 1st. Zacks Investment Research upgraded Parker-Hannifin from a “sell” rating to a “hold” rating in a research note on Wednesday, January 23rd. Morgan Stanley set a $172.00 price target on Parker-Hannifin and gave the company a “hold” rating in a research note on Saturday, February 2nd. Finally, Robert W. Baird set a $170.00 price target on Parker-Hannifin and gave the company a “buy” rating in a research note on Friday, January 25th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. Parker-Hannifin has an average rating of “Hold” and a consensus price target of $181.63.
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Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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