Huntington National Bank Sells 8,759 Shares of Parker-Hannifin Corporation $PH

Huntington National Bank cut its holdings in Parker-Hannifin Corporation (NYSE:PH) by 5.3% during the third quarter, Holdings Channel reports. The institutional investor owned 156,373 shares of the industrial products company’s stock after selling 8,759 shares during the quarter. Huntington National Bank’s holdings in Parker-Hannifin were worth $118,555,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in Parker-Hannifin in the third quarter worth about $29,000. Valley Wealth Managers Inc. bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $36,000. State of Wyoming purchased a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $38,000. Financial Consulate Inc. bought a new position in Parker-Hannifin during the 3rd quarter valued at approximately $47,000. Finally, Sagard Holdings Management Inc. bought a new position in Parker-Hannifin during the 2nd quarter valued at approximately $46,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was 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 directly owned 1,000 shares in the company, valued at $949,940. The trade was a 36.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the sale, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. The trade was a 9.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 12,551 shares of company stock valued at $12,117,502. 0.32% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Down 0.6%

Shares of Parker-Hannifin stock opened at $1,009.11 on Friday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $947.29 and its 200 day moving average is $843.95. The company has a market cap of $127.37 billion, a price-to-earnings ratio of 36.80, a price-to-earnings-growth ratio of 3.27 and a beta of 1.25.

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

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio is currently 26.26%.

Analyst Ratings Changes

PH has been the topic of a number of recent research reports. iA Financial set a $1,032.00 target price on Parker-Hannifin in a research note on Thursday, January 29th. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Finally, Morgan Stanley boosted their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an “equal weight” rating in a report on Tuesday. Sixteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $995.37.

About Parker-Hannifin

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.