Parker-Hannifin Corporation (PH) VP Sells $65,565.60 in Stock
Parker-Hannifin Corporation (NYSE:PH) VP Joseph R. Leonti sold 408 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total value of $65,565.60. Following the completion of the transaction, the vice president now owns 7,318 shares of the company’s stock, valued at approximately $1,176,002.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Parker-Hannifin Corporation (NYSE PH) traded up 0.19% during trading on Wednesday, hitting $160.07. The company had a trading volume of 976,743 shares. The stock’s 50-day moving average is $161.19 and its 200 day moving average is $159.25. The firm has a market capitalization of $21.31 billion, a P/E ratio of 22.08 and a beta of 1.41. Parker-Hannifin Corporation has a 52-week low of $118.77 and a 52-week high of $167.50.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 earnings per share. Equities research analysts predict that Parker-Hannifin Corporation will post $9.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Monday, August 28th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, August 24th. This represents a $2.64 annualized dividend and a yield of 1.65%. Parker-Hannifin Corporation’s dividend payout ratio is currently 36.51%.
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A number of institutional investors have recently modified their holdings of PH. BlackRock Inc. increased its holdings in Parker-Hannifin Corporation by 2,619.0% in the first quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock valued at $1,309,223,000 after buying an additional 7,865,974 shares in the last quarter. FMR LLC increased its holdings in Parker-Hannifin Corporation by 1,163.3% in the first quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock valued at $281,346,000 after buying an additional 1,615,987 shares in the last quarter. Jennison Associates LLC increased its holdings in Parker-Hannifin Corporation by 28.5% in the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock valued at $963,146,000 after buying an additional 1,336,541 shares in the last quarter. Voya Investment Management LLC increased its holdings in Parker-Hannifin Corporation by 1,175.0% in the second quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock valued at $215,499,000 after buying an additional 1,242,624 shares in the last quarter. Finally, Koch Industries Inc. purchased a new position in Parker-Hannifin Corporation in the second quarter valued at about $521,000. 80.24% of the stock is owned by institutional investors.
A number of brokerages recently issued reports on PH. ValuEngine upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Robert W. Baird set a $163.00 target price on Parker-Hannifin Corporation and gave the stock a “hold” rating in a research note on Thursday, August 24th. BidaskClub lowered Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Jefferies Group LLC restated a “hold” rating and issued a $165.00 target price (up previously from $163.00) on shares of Parker-Hannifin Corporation in a research note on Wednesday, August 9th. Finally, Zacks Investment Research lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $172.06.
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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