Parker Hannifin (NYSE:PH) VP Roger S. Sherrard sold 2,109 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $182.12, for a total value of $384,091.08. Following the transaction, the vice president now owns 51,865 shares of the company’s stock, valued at approximately $9,445,653.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Parker Hannifin stock traded down $4.74 on Friday, reaching $167.44. 1,392,085 shares of the company were exchanged, compared to its average volume of 1,039,176. The firm has a market capitalization of $22,908.29, a PE ratio of 20.65, a price-to-earnings-growth ratio of 1.48 and a beta of 1.42. The company has a quick ratio of 0.99, a current ratio of 1.49 and a debt-to-equity ratio of 0.87. Parker Hannifin has a fifty-two week low of $151.17 and a fifty-two week high of $212.80.
Parker Hannifin (NYSE:PH) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.08. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. Parker Hannifin had a return on equity of 23.15% and a net margin of 6.54%. Parker Hannifin’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.91 earnings per share. analysts expect that Parker Hannifin will post 9.98 EPS for the current year.
A number of research analysts have issued reports on PH shares. BMO Capital Markets boosted their price target on Parker Hannifin to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 4th. Zacks Investment Research lowered Parker Hannifin from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Cowen reissued a “hold” rating and issued a $180.00 price objective on shares of Parker Hannifin in a research note on Wednesday, January 10th. Stifel Nicolaus reissued a “buy” rating and issued a $245.00 price objective (up previously from $218.00) on shares of Parker Hannifin in a research note on Tuesday, January 16th. Finally, Wells Fargo boosted their price objective on Parker Hannifin from $205.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $202.75.
Several institutional investors have recently made changes to their positions in the company. Chemical Bank acquired a new stake in shares of Parker Hannifin during the fourth quarter worth $206,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Parker Hannifin by 11.0% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 4,164 shares of the industrial products company’s stock worth $831,000 after purchasing an additional 411 shares during the period. Wagner Wealth Management LLC acquired a new stake in shares of Parker Hannifin during the fourth quarter worth $198,000. Xact Kapitalforvaltning AB raised its position in shares of Parker Hannifin by 7.5% during the fourth quarter. Xact Kapitalforvaltning AB now owns 24,909 shares of the industrial products company’s stock worth $4,971,000 after purchasing an additional 1,745 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Parker Hannifin by 37.0% during the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 115,166 shares of the industrial products company’s stock worth $22,985,000 after purchasing an additional 31,087 shares during the period. 81.64% of the stock is currently owned by institutional investors.
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Parker Hannifin Company Profile
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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