Traders Sell Shares of Parker-Hannifin Corporation (PH) on Strength Following Insider Selling
Traders sold shares of Parker-Hannifin Corporation (NYSE:PH) on strength during trading on Friday after an insider sold shares in the company. $29.10 million flowed into the stock on the tick-up and $62.69 million flowed out of the stock on the tick-down, for a money net flow of $33.59 million out of the stock. Of all stocks tracked, Parker-Hannifin Corporation had the 0th highest net out-flow for the day. Parker-Hannifin Corporation traded up $1.94 for the day and closed at $162.83Specifically, EVP Mark J. Hart sold 600 shares of the firm’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $160.72, for a total transaction of $96,432.00. Following the transaction, the executive vice president now directly owns 5,851 shares of the company’s stock, valued at approximately $940,372.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Scaminace sold 500 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. Company insiders own 2.73% of the company’s stock.
PH has been the topic of several analyst reports. Jefferies Group LLC set a $163.00 target price on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a report on Wednesday, June 28th. BidaskClub downgraded shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $176.00 target price on shares of Parker-Hannifin Corporation in a report on Thursday, July 6th. J P Morgan Chase & Co set a $175.00 target price on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Thursday, May 18th. Finally, ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $172.06.
The company has a market cap of $21.68 billion, a PE ratio of 22.46 and a beta of 1.40. The company has a 50 day moving average price of $161.47 and a 200-day moving average price of $159.10.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same quarter last year, the firm posted $1.90 EPS. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, analysts forecast that Parker-Hannifin Corporation will post $9.08 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Monday, August 28th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, August 24th. This represents a $2.64 annualized dividend and a dividend yield of 1.62%. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is 36.51%.
Institutional investors have recently bought and sold shares of the stock. Israel Discount Bank of New York raised its position in Parker-Hannifin Corporation by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after buying an additional 150 shares during the period. Parallel Advisors LLC raised its position in Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after buying an additional 24 shares during the period. Harbour Capital Advisors LLC acquired a new position in Parker-Hannifin Corporation during the first quarter valued at $112,000. IHT Wealth Management LLC raised its position in Parker-Hannifin Corporation by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after buying an additional 20 shares during the period. Finally, BT Investment Management Ltd acquired a new position in Parker-Hannifin Corporation during the second quarter valued at $124,000. Institutional investors own 80.21% of the company’s stock.
About Parker-Hannifin Corporation
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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