Parker-Hannifin Co. (NYSE:PH) COO Andrew D. Ross Sells 4,864 Shares

Parker-Hannifin Co. (NYSE:PH) COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Parker-Hannifin Stock Performance

NYSE PH traded up $7.41 during trading hours on Friday, reaching $695.57. The company’s stock had a trading volume of 565,640 shares, compared to its average volume of 647,506. Parker-Hannifin Co. has a 52 week low of $410.86 and a 52 week high of $709.63. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $623.97 and a 200 day simple moving average of $569.69. The stock has a market cap of $89.53 billion, a PE ratio of 31.42, a PEG ratio of 2.86 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.96 earnings per share. Equities research analysts predict that Parker-Hannifin Co. will post 26.79 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PH. TD Asset Management Inc raised its stake in shares of Parker-Hannifin by 152.1% in the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after purchasing an additional 79,774 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Parker-Hannifin by 261.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 1,819 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Parker-Hannifin by 54.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock worth $9,540,000 after buying an additional 6,029 shares during the period. Wilkinson Global Asset Management LLC increased its holdings in Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after purchasing an additional 14,526 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its position in Parker-Hannifin by 198.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 3,441 shares of the industrial products company’s stock worth $1,912,000 after acquiring an additional 2,289 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company upped their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Evercore ISI raised their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Finally, Argus lifted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $673.14.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.