Insider Selling: Parker-Hannifin Co. (NYSE:PH) VP Sells 1,079 Shares of Stock

Parker-Hannifin Co. (NYSE:PH) VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Parker-Hannifin Trading Down 0.1 %

Shares of NYSE:PH opened at $550.14 on Wednesday. The company has a market capitalization of $70.64 billion, a P/E ratio of 25.93, a P/E/G ratio of 1.94 and a beta of 1.51. Parker-Hannifin Co. has a 1 year low of $319.14 and a 1 year high of $570.15. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The business’s 50 day simple moving average is $545.73 and its 200 day simple moving average is $486.41.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter last year, the business posted $5.93 EPS. The company’s revenue was up .3% compared to the same quarter last year. On average, research analysts anticipate that Parker-Hannifin Co. will post 24.62 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a dividend of $1.63 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.90%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PH. OFI Invest Asset Management bought a new position in shares of Parker-Hannifin in the 3rd quarter worth about $25,000. Sachetta LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new stake in Parker-Hannifin in the 4th quarter valued at about $26,000. Baystate Wealth Management LLC increased its position in Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares in the last quarter. Finally, First United Bank & Trust bought a new stake in Parker-Hannifin in the 4th quarter valued at about $29,000. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on PH shares. Argus raised their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company lowered their target price on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research note on Monday. Mizuho lifted their target price on Parker-Hannifin from $490.00 to $550.00 and gave the company a “neutral” rating in a research note on Friday, May 3rd. Barclays decreased their price objective on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $539.56.

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.