Parker-Hannifin Corporation (NYSE:PH) VP Joseph R. Leonti sold 5,279 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $179.07, for a total transaction of $945,310.53. Following the completion of the sale, the vice president now owns 8,032 shares of the company’s stock, valued at $1,438,290.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Parker-Hannifin Corporation (NYSE:PH) opened at $182.34 on Friday. Parker-Hannifin Corporation has a 1-year low of $134.03 and a 1-year high of $189.83. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95. The company has a market cap of $24,290.00, a price-to-earnings ratio of 20.63, a PEG ratio of 1.62 and a beta of 1.40.
Parker-Hannifin Corporation (NYSE:PH) last released 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 company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. Parker-Hannifin Corporation’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 earnings per share. research analysts expect that Parker-Hannifin Corporation will post 9.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s payout ratio is 33.89%.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Parker-Hannifin Corporation by 1.0% during the second quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock valued at $1,397,867,000 after purchasing an additional 90,732 shares in the last quarter. BlackRock Inc. raised its stake in Parker-Hannifin Corporation by 3.6% during the second quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock valued at $1,352,775,000 after purchasing an additional 298,047 shares in the last quarter. Jennison Associates LLC raised its stake in Parker-Hannifin Corporation by 28.5% during the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock valued at $963,146,000 after purchasing an additional 1,336,541 shares in the last quarter. Longview Partners Guernsey LTD raised its stake in Parker-Hannifin Corporation by 5.4% during the third quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock valued at $947,463,000 after purchasing an additional 278,500 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in Parker-Hannifin Corporation by 10.2% during the second quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock valued at $336,317,000 after purchasing an additional 194,858 shares in the last quarter. 77.73% of the stock is currently owned by institutional investors.
Several analysts recently issued reports on the stock. ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Credit Suisse Group boosted their target price on shares of Parker-Hannifin Corporation from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. BMO Capital Markets restated a “buy” rating and set a $200.00 target price on shares of Parker-Hannifin Corporation in a research report on Friday, October 20th. Morgan Stanley lowered shares of Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 target price for the company. in a research report on Monday, October 2nd. Finally, BidaskClub lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $188.37.
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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