Parker-Hannifin Corporation (NYSE:PH) VP Martin C. Maxwell sold 2,640 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total transaction of $437,368.80. Following the transaction, the vice president now directly owns 31,718 shares of the company’s stock, valued at approximately $5,254,721.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of Parker-Hannifin Corporation (PH) opened at 167.94 on Friday. The firm has a market capitalization of $22.36 billion, a price-to-earnings ratio of 23.16 and a beta of 1.41. The company’s 50-day moving average is $160.91 and its 200 day moving average is $159.60. Parker-Hannifin Corporation has a 52 week low of $118.77 and a 52 week high of $168.70.
Parker-Hannifin Corporation (NYSE:PH) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.14. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 earnings per share. Analysts anticipate that Parker-Hannifin Corporation will post $9.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were paid a $0.66 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $2.64 annualized dividend and a dividend yield of 1.57%. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is presently 36.51%.
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A number of research firms have issued reports on PH. Stifel Nicolaus set a $198.00 target price on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Friday, August 4th. BidaskClub lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and set a $163.00 target price on shares of Parker-Hannifin Corporation in a report on Thursday, August 3rd. Wolfe Research began coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They set an “outperform” rating and a $182.00 target price on the stock. Finally, ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $172.06.
A number of institutional investors and hedge funds have recently bought and sold shares of PH. Xact Kapitalforvaltning AB raised its holdings in Parker-Hannifin Corporation by 4.5% in the first quarter. Xact Kapitalforvaltning AB now owns 24,360 shares of the industrial products company’s stock valued at $3,905,000 after acquiring an additional 1,055 shares in the last quarter. Pictet Asset Management Ltd. raised its holdings in Parker-Hannifin Corporation by 10.7% in the first quarter. Pictet Asset Management Ltd. now owns 80,537 shares of the industrial products company’s stock valued at $12,912,000 after acquiring an additional 7,800 shares in the last quarter. Swiss National Bank raised its holdings in Parker-Hannifin Corporation by 26.7% in the first quarter. Swiss National Bank now owns 472,732 shares of the industrial products company’s stock valued at $75,788,000 after acquiring an additional 99,700 shares in the last quarter. World Asset Management Inc raised its holdings in Parker-Hannifin Corporation by 9.7% in the first quarter. World Asset Management Inc now owns 14,170 shares of the industrial products company’s stock valued at $2,272,000 after acquiring an additional 1,257 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new stake in Parker-Hannifin Corporation in the first quarter valued at $2,050,000. 80.24% of the stock is currently owned by hedge funds and other institutional investors.
About Parker-Hannifin Corporation
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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