Parker-Hannifin Co. (NYSE:PH - Get Free Report) VP Jay Reidy sold 572 shares of the business's stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Parker-Hannifin Stock Down 0.1 %
Shares of PH stock opened at $550.14 on Wednesday. The stock has a 50 day moving average of $545.73 and a 200-day moving average of $486.41. The firm has a market cap of $70.64 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.94 and a beta of 1.51. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Parker-Hannifin Co. has a 12 month low of $319.14 and a 12 month high of $570.15.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating the consensus estimate of $6.10 by $0.41. The firm had revenue of $5.07 billion during the quarter, compared to analysts' expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business's quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the company earned $5.93 EPS. On average, equities analysts predict that Parker-Hannifin Co. will post 24.62 EPS for the current year.
Parker-Hannifin Increases Dividend
Obama’s Forever Term [exposed]
From Porter & Company | Ad
America’s Last Election
New documentary, America’s Last Election, reveals the true (and terrifying) story of how the D.C. establishment has engineered a brutal new crisis that could hand them permanent power.
Power they will use to reshape America to their dark, dystopian vision.
Start streaming it now at no cost here
The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a dividend of $1.63 per share. The ex-dividend date is Thursday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a yield of 1.19%. Parker-Hannifin's dividend payout ratio (DPR) is 27.90%.
Hedge Funds Weigh In On Parker-Hannifin
Several large investors have recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC raised its position in Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company's stock worth $29,000 after purchasing an additional 20 shares in the last quarter. Sachetta LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin during the 1st quarter worth approximately $31,000. Wetzel Investment Advisors Inc. acquired a new stake in Parker-Hannifin in the 4th quarter valued at $26,000. Finally, First United Bank & Trust bought a new stake in Parker-Hannifin in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 82.44% of the company's stock.
Analyst Upgrades and Downgrades
PH has been the topic of a number of research reports. Truist Financial increased their price objective on Parker-Hannifin from $602.00 to $611.00 and gave the stock a "buy" rating in a report on Friday, May 3rd. KeyCorp lifted their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Wells Fargo & Company lowered their target price on shares of Parker-Hannifin from $640.00 to $630.00 and set an "overweight" rating on the stock in a research report on Monday. Argus boosted their price target on Parker-Hannifin from $550.00 to $590.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Barclays decreased their price target on Parker-Hannifin from $625.00 to $618.00 and set an "overweight" rating for the company in a research note on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $539.56.
Get Our Latest Analysis on PH
Parker-Hannifin Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
