Insider Selling: Parker-Hannifin Co. (NYSE:PH) VP Sells $202,200.00 in Stock

Parker-Hannifin Co. (NYSE:PH – Get Rating) VP Mark T. Czaja sold 600 shares of Parker-Hannifin stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $337.00, for a total transaction of $202,200.00. Following the sale, the vice president now owns 2,241 shares in the company, valued at approximately $755,217. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $323.99 on Friday. The company has a current ratio of 1.25, a quick ratio of 0.72 and a debt-to-equity ratio of 1.17. The stock’s fifty day moving average price is $326.47 and its 200-day moving average price is $317.22. The firm has a market cap of $41.57 billion, a P/E ratio of 28.05, a P/E/G ratio of 1.36 and a beta of 1.49. Parker-Hannifin Co. has a 12 month low of $230.44 and a 12 month high of $364.57.

Parker-Hannifin (NYSE:PH – Get Rating) last posted its earnings results on Thursday, May 4th. The industrial products company reported $5.93 EPS for the quarter, beating analysts’ consensus estimates of $5.01 by $0.92. Parker-Hannifin had a net margin of 8.28% and a return on equity of 29.14%. The business had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $4.79 billion. During the same quarter last year, the firm posted $4.83 EPS. The company’s revenue for the quarter was up 23.9% on a year-over-year basis. On average, equities research analysts expect that Parker-Hannifin Co. will post 20.87 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Friday, May 12th will be given a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Thursday, May 11th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.33. Parker-Hannifin’s dividend payout ratio (DPR) is 46.06%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cetera Advisor Networks LLC grew its stake in Parker-Hannifin by 8.1% in the first quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock valued at $425,000 after purchasing an additional 112 shares during the last quarter. Panagora Asset Management Inc. boosted its position in shares of Parker-Hannifin by 69.8% in the 1st quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 1,591 shares in the last quarter. Prudential PLC acquired a new position in Parker-Hannifin during the 1st quarter valued at about $687,000. Moors & Cabot Inc. raised its stake in Parker-Hannifin by 270.8% in the first quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock valued at $771,000 after buying an additional 1,985 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Parker-Hannifin by 2.0% during the first quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock worth $2,794,892,000 after acquiring an additional 190,889 shares during the last quarter. 81.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Evercore ISI lifted their price target on shares of Parker-Hannifin from $413.00 to $440.00 in a report on Tuesday, May 9th. KeyCorp lifted their target price on Parker-Hannifin from $335.00 to $390.00 and gave the stock an “overweight” rating in a report on Friday, February 3rd. Barclays increased their price target on Parker-Hannifin from $343.00 to $400.00 and gave the company an “overweight” rating in a research note on Sunday, February 5th. Morgan Stanley lifted their price objective on Parker-Hannifin from $311.00 to $374.00 and gave the stock an “equal weight” rating in a research note on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $322.00 to $344.00 and gave the company a “hold” rating in a research report on Wednesday, April 12th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $378.46.

About Parker-Hannifin

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Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace Systems segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.