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%.

COPYRIGHT VIOLATION WARNING: “Parker-Hannifin Corporation (PH) VP Sells $65,565.60 in Stock” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another site, it was stolen and reposted in violation of United States & international trademark & copyright legislation. The original version of this news story can be read at https://www.thecerbatgem.com/2017/09/06/parker-hannifin-corporation-ph-vp-sells-65565-60-in-stock.html.

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.

Insider Buying and Selling by Quarter for Parker-Hannifin Corporation (NYSE:PH)

Receive News & Stock Ratings for Parker-Hannifin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corporation and related stocks with our FREE daily email newsletter.