Todd Leombruno Sells 2,062 Shares of Parker-Hannifin (NYSE:PH) Stock

Parker-Hannifin Corporation (NYSE:PH) CFO Todd Leombruno sold 2,062 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the sale, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $1,001.30 on Friday. The firm has a market capitalization of $126.38 billion, a PE ratio of 36.52, a price-to-earnings-growth ratio of 3.23 and a beta of 1.25. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $1,012.49. The stock’s 50 day moving average price is $920.62 and its 200 day moving average price is $824.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $6.53 earnings per share. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be given a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s dividend payout ratio is presently 26.26%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PH shares. Susquehanna reiterated a “positive” rating and issued a $1,000.00 price target on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Jefferies Financial Group upped their target price on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a report on Thursday, January 29th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $990.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of PH. ING Groep NV acquired a new position in Parker-Hannifin in the third quarter valued at about $26,398,000. Quadrant Capital Group LLC raised its stake in shares of Parker-Hannifin by 20.1% in the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock valued at $2,521,000 after acquiring an additional 604 shares during the last quarter. Procyon Advisors LLC grew its position in Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after acquiring an additional 5,066,179 shares during the last quarter. Wilkinson Global Asset Management LLC increased its holdings in Parker-Hannifin by 28.2% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock valued at $36,720,000 after purchasing an additional 10,653 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in Parker-Hannifin in the 2nd quarter valued at $733,000. 82.44% of the stock is owned by institutional investors and hedge funds.

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.