Stocks: Parker-Hannifin Corp (PH) VP Robert W. Malone Sells 793 Shares

Stocks: Parker-Hannifin Corp (PH) VP Robert W. Malone Sells 793 Shares

Parker-Hannifin Corp (NYSE:PH) VP Robert W. Malone sold 793 shares of the company’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $159.36, for a total value of $126,372.48. Following the completion of the transaction, the vice president now directly owns 11,549 shares of the company’s stock, valued at $1,840,448.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Parker-Hannifin Corp (NYSE:PH) traded down 1.43% during trading on Friday, hitting $156.75. The stock had a trading volume of 431,644 shares. Parker-Hannifin Corp has a 52-week low of $99.10 and a 52-week high of $166.60. The company has a market cap of $20.88 billion, a price-to-earnings ratio of 22.84 and a beta of 1.28. The company has a 50-day moving average price of $158.98 and a 200-day moving average price of $147.62.

Parker-Hannifin Corp (NYSE:PH) last issued its earnings results on Thursday, April 27th. The industrial products company reported $2.11 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.25. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.03 billion. Parker-Hannifin Corp had a net margin of 7.86% and a return on equity of 20.08%. Parker-Hannifin Corp’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 EPS. Equities research analysts forecast that Parker-Hannifin Corp will post $7.88 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 2nd. Investors of record on Wednesday, May 10th will be issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Monday, May 8th. Parker-Hannifin Corp’s dividend payout ratio is currently 40.80%.

PH has been the subject of several research reports. Bank of America Corp raised Parker-Hannifin Corp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $157.00 to $180.00 in a report on Wednesday, February 15th. Argus raised Parker-Hannifin Corp from a “hold” rating to a “buy” rating and set a $176.00 price objective for the company in a report on Tuesday, February 7th. Zacks Investment Research raised Parker-Hannifin Corp from a “hold” rating to a “buy” rating and set a $168.00 price objective for the company in a report on Monday, February 6th. Credit Suisse Group AG set a $169.00 price objective on Parker-Hannifin Corp and gave the company a “buy” rating in a report on Saturday, February 4th. Finally, Goldman Sachs Group Inc initiated coverage on Parker-Hannifin Corp in a report on Monday, March 13th. They set a “buy” rating and a $180.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $159.88.

A number of hedge funds and other institutional investors have recently modified their holdings of PH. Itau Unibanco Holding S.A. purchased a new position in shares of Parker-Hannifin Corp during the third quarter valued at $105,000. Quadrant Capital Group LLC increased its position in shares of Parker-Hannifin Corp by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares in the last quarter. TrimTabs Asset Management LLC increased its position in shares of Parker-Hannifin Corp by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after buying an additional 400 shares in the last quarter. Massey Quick & Co. LLC purchased a new position in shares of Parker-Hannifin Corp during the fourth quarter valued at $168,000. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of Parker-Hannifin Corp during the third quarter valued at $188,000. 82.72% of the stock is owned by institutional investors.

Parker-Hannifin Corp 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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