Key Points
- CFO Todd Leombruno sold 2,062 shares on Feb. 11 at an average price of $1,002.34 for proceeds of about $2.07 million, leaving him with 20,610 shares (a 9.09% reduction in his stake).
- Parker‑Hannifin beat expectations for the quarter with EPS $7.65 vs. $7.11 and revenue of $5.17 billion (up 9.1% year‑over‑year), while reporting a 17.29% net margin and 27.56% return on equity.
- The company announced a quarterly dividend of $1.80 (annualized $7.20, yield ~0.7%, ex‑dividend Feb. 6, payable Mar. 6) and carries a consensus analyst rating of “Moderate Buy” with an average target around $990.47.
Parker-Hannifin Corporation (NYSE:PH - Get Free Report) CFO Todd Leombruno sold 2,062 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 20,610 shares of the company's stock, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Parker-Hannifin Trading Up 1.9%
PH opened at $1,001.30 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $1,012.49. The company's 50 day moving average price is $920.62 and its two-hundred day moving average price is $823.93. The firm has a market capitalization of $126.38 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.17 and a beta of 1.25.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter last year, the firm earned $6.53 earnings per share. The company's revenue for the quarter was up 9.1% on a year-over-year basis. As a group, research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.
Parker-Hannifin Announces Dividend
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 issued a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.7%. Parker-Hannifin's payout ratio is presently 26.26%.
Institutional Investors Weigh In On Parker-Hannifin
A number of hedge funds have recently added to or reduced their stakes in PH. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin in the 3rd quarter valued at $25,000. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin in the third quarter valued at $29,000. HFM Investment Advisors LLC grew its holdings in shares of Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock valued at $29,000 after buying an additional 30 shares during the last quarter. Interchange Capital Partners LLC bought a new stake in shares of Parker-Hannifin during the second quarter worth about $31,000. Finally, Lloyd Advisory Services LLC. acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 82.44% of the company's stock.
Wall Street Analysts Forecast Growth
PH has been the topic of a number of recent analyst reports. Susquehanna reaffirmed a "positive" rating and issued a $1,000.00 price objective on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Morgan Stanley restated a "positive" rating on shares of Parker-Hannifin in a report on Wednesday, January 14th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. JPMorgan Chase & Co. boosted their target price 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, BNP Paribas Exane began coverage on Parker-Hannifin in a report on Thursday, December 4th. They set an "outperform" rating and a $1,020.00 price target for the company. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $990.47.
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About Parker-Hannifin
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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.
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