Parker-Hannifin Corporation (NYSE:PH) VP Robert W. Bond sold 5,517 shares of Parker-Hannifin Corporation stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $181.72, for a total value of $1,002,549.24. Following the completion of the sale, the vice president now directly owns 28,265 shares of the company’s stock, valued at approximately $5,136,315.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of Parker-Hannifin Corporation (NYSE:PH) opened at $184.29 on Wednesday. The stock has a market capitalization of $24,367.05, a PE ratio of 21.00, a PEG ratio of 1.64 and a beta of 1.40. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. Parker-Hannifin Corporation has a 12-month low of $134.03 and a 12-month high of $189.83.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter last year, the company posted $1.61 EPS. sell-side analysts forecast that Parker-Hannifin Corporation will post 9.57 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a $0.66 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.64 dividend on an annualized basis and a yield of 1.43%. Parker-Hannifin Corporation’s payout ratio is 33.93%.
Several equities research analysts recently weighed in on PH shares. Cowen and Company reissued a “hold” rating and issued a $140.00 price objective on shares of Parker-Hannifin Corporation in a report on Friday, October 6th. Zacks Investment Research raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $208.00 price objective for the company in a report on Tuesday, November 7th. Robert W. Baird lifted their price objective on Parker-Hannifin Corporation from $183.00 to $194.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. BMO Capital Markets lifted their price objective on Parker-Hannifin Corporation from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $165.00 price objective (up previously from $163.00) on shares of Parker-Hannifin Corporation in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $188.95.
A number of large investors have recently added to or reduced their stakes in PH. Jennison Associates LLC lifted its position in Parker-Hannifin Corporation by 28.5% in the 2nd quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after buying an additional 1,336,541 shares during the last quarter. Voya Investment Management LLC lifted its position in Parker-Hannifin Corporation by 1,175.0% in the 2nd quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock worth $215,499,000 after buying an additional 1,242,624 shares during the last quarter. Koch Industries Inc. bought a new stake in Parker-Hannifin Corporation in the 2nd quarter worth approximately $521,000. PNC Financial Services Group Inc. lifted its position in Parker-Hannifin Corporation by 277.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 595,662 shares of the industrial products company’s stock worth $95,200,000 after buying an additional 438,035 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Parker-Hannifin Corporation by 2,611.4% in the 2nd quarter. Janus Henderson Group PLC now owns 453,585 shares of the industrial products company’s stock worth $72,493,000 after buying an additional 436,856 shares during the last quarter. Institutional investors own 78.35% of the company’s stock.
Parker-Hannifin Corporation Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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