Insider Selling: Parker-Hannifin (NYSE:PH) VP Sells 1,457 Shares of Stock

Parker-Hannifin Corporation (NYSE:PH) VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the transaction, the vice president directly owned 2,580 shares in the company, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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 transaction of $3,032,082.06.

Parker-Hannifin Trading Up 0.4%

Shares of NYSE PH traded up $4.03 during midday trading on Wednesday, reaching $968.36. The stock had a trading volume of 956,510 shares, compared to its average volume of 698,883. The firm has a market cap of $122.23 billion, a price-to-earnings ratio of 35.32, a price-to-earnings-growth ratio of 3.25 and a beta of 1.25. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $979.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The company’s 50 day moving average price is $901.84 and its 200 day moving average price is $810.94.

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

Parker-Hannifin Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Institutional Trading of Parker-Hannifin

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

Analysts Set New Price Targets

A number of research firms recently issued reports on PH. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday. Mizuho increased their price objective on shares of Parker-Hannifin from $800.00 to $825.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Citigroup raised their target price on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company upped 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 research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $990.47.

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.