Parker-Hannifin Corporation $PH Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 57.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 386 shares of the industrial products company’s stock after selling 515 shares during the quarter. Sentry Investment Management LLC’s holdings in Parker-Hannifin were worth $291,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Chilton Capital Management LLC acquired a new stake in Parker-Hannifin during the third quarter worth about $29,000. Interchange Capital Partners LLC acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth approximately $31,000. Valley Wealth Managers Inc. acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $36,000. State of Wyoming purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at approximately $38,000. Finally, Princeton Global Asset Management LLC lifted its holdings in Parker-Hannifin by 56.1% in the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 23 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In related news, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president directly owned 6,534 shares of the company’s stock, valued at $6,207,626.70. The trade was a 16.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the sale, the vice president owned 1,000 shares in the company, valued at approximately $949,940. This trade represents a 36.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,769 shares of company stock valued at $9,649,169 in the last 90 days. Insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Up 1.2%

Shares of NYSE:PH opened at $978.96 on Friday. The firm has a market capitalization of $123.56 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 3.30 and a beta of 1.25. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $979.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The firm’s 50-day moving average is $906.08 and its two-hundred day moving average is $813.12.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The firm 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%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.53 earnings per share. Analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

Analyst Ratings Changes

PH has been the subject of several recent analyst reports. Industrial Alliance Securities set a $1,032.00 target price on Parker-Hannifin in a research note on Thursday, January 29th. KeyCorp reissued an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. JPMorgan Chase & Co. upped their target price on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Finally, Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target 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.