Andrew Ross Sells 4,664 Shares of Parker-Hannifin (NYSE:PH) Stock

Parker-Hannifin Corporation (NYSE:PH) COO Andrew Ross sold 4,664 shares of Parker-Hannifin stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the sale, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $13,106,880. This trade represents a 26.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Parker-Hannifin Trading Up 1.9%

NYSE PH opened at $1,001.30 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,012.49. The firm’s fifty day simple moving average is $920.62 and its 200-day simple moving average is $824.55. The company 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 (NYSE:PH) last issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the company posted $6.53 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s payout ratio is currently 26.26%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PH. JFS Wealth Advisors LLC grew its stake in shares of Parker-Hannifin by 6.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company’s stock worth $152,000 after acquiring an additional 11 shares during the last quarter. Avion Wealth grew its position in Parker-Hannifin by 35.5% in the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 11 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in Parker-Hannifin by 1.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 11 shares during the last quarter. Inspire Advisors LLC increased its holdings in shares of Parker-Hannifin by 1.2% during the 4th quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after purchasing an additional 11 shares during the period. Finally, 180 Wealth Advisors LLC lifted its stake in shares of Parker-Hannifin by 1.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company’s stock valued at $573,000 after buying an additional 12 shares during the period. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PH shares. Barclays lifted their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Argus reissued a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a research note on Monday, November 10th. Finally, iA Financial set a $1,032.00 target price on Parker-Hannifin in a research report on Thursday, January 29th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $990.47.

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.