Parker-Hannifin Co. (NYSE:PH) VP Sells $1,703,818.80 in Stock

Parker-Hannifin Co. (NYSE:PH) VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Parker-Hannifin Stock Up 1.1 %

PH traded up $7.41 during trading on Friday, reaching $695.57. The company had a trading volume of 565,640 shares, compared to its average volume of 647,506. The company has a market cap of $89.53 billion, a P/E ratio of 31.42, a PEG ratio of 2.86 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $410.86 and a 12 month high of $709.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The business’s fifty day moving average price is $623.97 and its 200 day moving average price is $569.69.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion during 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 company’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 EPS. Equities analysts anticipate that Parker-Hannifin Co. will post 26.79 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

Hedge Funds Weigh In On Parker-Hannifin

Several hedge funds have recently made changes to their positions in PH. Vanguard Group Inc. increased its stake in Parker-Hannifin by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock valued at $5,872,694,000 after buying an additional 105,475 shares during the last quarter. Boston Partners raised its holdings in Parker-Hannifin by 4.1% during the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after acquiring an additional 43,535 shares in the last quarter. Legal & General Group Plc boosted its position in Parker-Hannifin by 1.3% during the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after purchasing an additional 12,615 shares during the last quarter. AMF Tjanstepension AB grew its stake in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Parker-Hannifin by 11.6% during the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock worth $378,572,000 after purchasing an additional 76,629 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PH shares. TD Cowen raised their price target on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Truist Financial lifted their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $673.14.

Parker-Hannifin Company Profile

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.