Parker-Hannifin (NYSE:PH) VP Berend Bracht Sells 1,457 Shares

Parker-Hannifin Corporation (NYSE:PH) VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the transaction, the vice president owned 2,580 shares in the company, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Berend Bracht also recently made the following trade(s):

• On Wednesday, November 12th, Berend Bracht sold 3,507 shares of Parker-Hannifin stock. The stock was sold at an average price of $864.58, for a total transaction of $3,032,082.06.

Parker-Hannifin Stock Performance

Shares of PH stock traded up $4.03 during trading on Wednesday, hitting $968.36. The company’s stock had a trading volume of 956,510 shares, compared to its average volume of 698,883. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a market cap of $122.23 billion, a PE ratio of 35.32, a P/E/G ratio of 3.25 and a beta of 1.25. The business has a fifty day moving average of $901.84 and a 200-day moving average of $810.94. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $979.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.11 by $0.54. The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.53 earnings per share. As a group, research analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Analyst Upgrades and Downgrades

PH has been the subject of a number of research reports. Susquehanna reissued a “positive” rating and set a $1,000.00 target price on shares of Parker-Hannifin in a research report on Wednesday, November 12th. Mizuho upped their price objective on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Truist Financial set a $1,139.00 target price on Parker-Hannifin in a research report on Friday, January 30th. Wells Fargo & Company upped their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $990.47.

Institutional Trading of Parker-Hannifin

A number of hedge funds and other institutional investors have recently made changes to their positions in PH. Quadrant Capital Group LLC lifted its stake in Parker-Hannifin by 20.1% during the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock worth $2,521,000 after purchasing an additional 604 shares during the last quarter. Procyon Advisors LLC increased its position in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $733,000. Wilkinson Global Asset Management LLC raised its holdings in shares of Parker-Hannifin by 28.2% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock valued at $36,720,000 after buying an additional 10,653 shares in the last quarter. Finally, Pacific Heights Asset Management LLC lifted its position in Parker-Hannifin by 3.2% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 65,000 shares of the industrial products company’s stock worth $49,280,000 after buying an additional 2,000 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Company Profile

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.