Parker-Hannifin Corp (NYSE:PH) VP Joseph R. Leonti sold 2,228 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $200.56, for a total transaction of $446,847.68. Following the completion of the sale, the vice president now directly owns 22,099 shares in the company, valued at $4,432,175.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
NYSE PH traded up $0.45 during mid-day trading on Friday, reaching $199.67. 472,565 shares of the stock were exchanged, compared to its average volume of 1,033,564. The business’s 50 day moving average is $182.83 and its 200-day moving average is $172.34. Parker-Hannifin Corp has a 1 year low of $140.82 and a 1 year high of $201.38. The company has a market capitalization of $25.53 billion, a P/E ratio of 16.85, a P/E/G ratio of 2.01 and a beta of 1.55. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.53 and a current ratio of 1.96.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.76 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.64 by $0.12. Parker-Hannifin had a net margin of 10.41% and a return on equity of 25.74%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the firm posted $2.84 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities analysts predict that Parker-Hannifin Corp will post 10.71 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Thursday, November 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.70%.
Several analysts have recently commented on the stock. BMO Capital Markets upped their price objective on shares of Parker-Hannifin to $210.00 and gave the company an “outperform” rating in a report on Tuesday. ValuEngine raised shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Wolfe Research set a $189.00 price objective on shares of Parker-Hannifin and gave the company a “hold” rating in a report on Friday, November 1st. Zacks Investment Research downgraded shares of Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 price objective on the stock. in a report on Wednesday, July 17th. Finally, Stifel Nicolaus dropped their price objective on shares of Parker-Hannifin from $176.00 to $174.00 and set a “hold” rating on the stock in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company. Parker-Hannifin currently has an average rating of “Hold” and a consensus price target of $185.85.
A number of hedge funds and other institutional investors have recently made changes to their positions in PH. FMR LLC lifted its holdings in Parker-Hannifin by 16.1% during the first quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock valued at $53,324,000 after purchasing an additional 43,094 shares in the last quarter. DNB Asset Management AS lifted its holdings in Parker-Hannifin by 7.0% during the second quarter. DNB Asset Management AS now owns 27,863 shares of the industrial products company’s stock valued at $4,737,000 after purchasing an additional 1,811 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Parker-Hannifin by 1.9% during the second quarter. Crossmark Global Holdings Inc. now owns 10,344 shares of the industrial products company’s stock valued at $1,759,000 after purchasing an additional 191 shares in the last quarter. Nachman Norwood & Parrott Inc purchased a new position in Parker-Hannifin during the second quarter valued at $289,000. Finally, HMS Capital Management LLC purchased a new position in Parker-Hannifin during the second quarter valued at $36,000. 80.32% of the stock is currently owned by hedge funds and other institutional investors.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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