Short Interest in Parker-Hannifin Corporation (NYSE:PH) Declines By 20.0%

Parker-Hannifin Corporation (NYSE:PH) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 1,311,295 shares, a decline of 20.0% from the February 26th total of 1,638,246 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average daily volume of 906,761 shares, the short-interest ratio is presently 1.4 days.

Parker-Hannifin Trading Down 0.1%

PH opened at $887.73 on Monday. Parker-Hannifin has a twelve month low of $488.45 and a twelve month high of $1,034.96. The company has a fifty day moving average of $954.93 and a 200-day moving average of $869.62. The stock has a market cap of $112.05 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.86 and a beta of 1.23. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $6.53 EPS. On average, sell-side analysts predict that Parker-Hannifin will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were paid a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin’s payout ratio is currently 26.26%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Citigroup raised their target price on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Barclays lifted their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Wells Fargo & Company upped their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, BMO Capital Markets initiated coverage on Parker-Hannifin in a research report on Friday. They set an “outperform” rating and a $1,090.00 price objective for the company. Seventeen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,000.10.

Insider Buying and Selling

In other news, VP Matthew A. Jacobson sold 564 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the transaction, the vice president owned 1,000 shares of the company’s stock, valued at $949,940. This represents a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the transaction, the vice president owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 10,063 shares of company stock valued at $9,891,214 over the last three months. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Large investors have recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after buying an additional 101 shares during the period. Bison Wealth LLC boosted its holdings in shares of Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock worth $476,000 after buying an additional 32 shares in the last quarter. Empowered Funds LLC grew its position in shares of Parker-Hannifin by 0.5% during the 1st quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after buying an additional 15 shares during the period. Acadian Asset Management LLC grew its position in shares of Parker-Hannifin by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after buying an additional 166 shares during the period. Finally, Sivia Capital Partners LLC increased its stake in shares of Parker-Hannifin by 3.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 15 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

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.