Martin C. Maxwell Sells 2,640 Shares of Parker-Hannifin Corporation (PH) Stock

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.

Insider Buying and Selling by Quarter for Parker-Hannifin Corporation (NYSE:PH)

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