Parker-Hannifin Co. (NYSE:PH) VP Thomas C. Gentile Sells 2,430 Shares of Stock

Parker-Hannifin Co. (NYSE:PH) VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $695.57 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $89.53 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 2.86 and a beta of 1.43. The firm’s 50 day moving average price is $623.97 and its 200-day moving average price is $569.69. Parker-Hannifin Co. has a twelve month low of $410.86 and a twelve month high of $709.63.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $5.96 EPS. Equities research analysts expect that Parker-Hannifin Co. will post 26.79 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norden Group LLC bought a new position in Parker-Hannifin in the 1st quarter worth $350,000. Empirical Finance LLC grew its position in shares of Parker-Hannifin by 3.5% during the first quarter. Empirical Finance LLC now owns 4,633 shares of the industrial products company’s stock worth $2,575,000 after purchasing an additional 155 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in Parker-Hannifin by 9.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 12,420 shares of the industrial products company’s stock valued at $6,903,000 after purchasing an additional 1,088 shares during the period. SG Americas Securities LLC lifted its holdings in Parker-Hannifin by 484.6% in the 1st quarter. SG Americas Securities LLC now owns 17,426 shares of the industrial products company’s stock worth $9,685,000 after purchasing an additional 14,445 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Parker-Hannifin by 8.3% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,497 shares of the industrial products company’s stock worth $2,499,000 after purchasing an additional 346 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PH shares. Wells Fargo & Company increased their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Raymond James increased their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. KeyCorp lifted their target price on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Barclays boosted their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $673.14.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.