Wesbanco Bank Inc. Sells 693 Shares of Parker-Hannifin Corporation $PH

Wesbanco Bank Inc. lessened its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,060 shares of the industrial products company’s stock after selling 693 shares during the quarter. Wesbanco Bank Inc.’s holdings in Parker-Hannifin were worth $24,306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Midwest Trust Co bought a new stake in shares of Parker-Hannifin during the third quarter valued at approximately $292,000. Wealthfront Advisers LLC increased its holdings in Parker-Hannifin by 6.7% in the 3rd quarter. Wealthfront Advisers LLC now owns 14,331 shares of the industrial products company’s stock valued at $10,865,000 after acquiring an additional 898 shares during the last quarter. Navellier & Associates Inc. boosted its holdings in shares of Parker-Hannifin by 1.3% during the 3rd quarter. Navellier & Associates Inc. now owns 4,198 shares of the industrial products company’s stock valued at $3,183,000 after purchasing an additional 53 shares during the last quarter. Johnson Investment Counsel Inc. grew its position in shares of Parker-Hannifin by 10.6% during the third quarter. Johnson Investment Counsel Inc. now owns 2,681 shares of the industrial products company’s stock valued at $2,032,000 after purchasing an additional 258 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in shares of Parker-Hannifin by 1.1% during the third quarter. Oppenheimer & Co. Inc. now owns 6,305 shares of the industrial products company’s stock valued at $4,780,000 after purchasing an additional 69 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $950.05, for a total value of $1,250,265.80. Following the sale, the vice president directly owned 6,534 shares of the company’s stock, valued at approximately $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 10,769 shares of company stock valued at $9,649,169. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Up 0.2%

Shares of NYSE PH opened at $978.49 on Tuesday. The business’s 50 day moving average price is $910.86 and its 200-day moving average price is $817.98. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $989.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The company has a market cap of $123.51 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 3.33 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $6.53 earnings per share. On average, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be paid a $1.80 dividend. 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 is currently 26.26%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Mizuho raised their price target on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Wall Street Zen raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a research note on Thursday, January 29th. Finally, KeyCorp restated an “overweight” rating and set a $1,100.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $990.47.

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.