Parker-Hannifin Co. (NYSE:PH) VP Berend Bracht Sells 1,079 Shares of Stock

Parker-Hannifin Co. (NYSE:PH) VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Parker-Hannifin Stock Down 0.1 %

Parker-Hannifin stock opened at $550.14 on Wednesday. Parker-Hannifin Co. has a fifty-two week low of $319.14 and a fifty-two week high of $570.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The company has a market capitalization of $70.64 billion, a P/E ratio of 25.93, a PEG ratio of 1.94 and a beta of 1.51. The stock has a 50-day simple moving average of $545.73 and a 200-day simple moving average of $486.41.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating the consensus estimate of $6.10 by $0.41. The business had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the previous year, the business earned $5.93 EPS. Equities research analysts expect that Parker-Hannifin Co. will post 24.62 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is 27.90%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $300.00 to $500.00 in a report on Friday, March 1st. Stifel Nicolaus lifted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Mizuho lifted their price target on Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. Truist Financial lifted their price target on Parker-Hannifin from $602.00 to $611.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Barclays decreased their price target on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $539.56.

Hedge Funds Weigh In On Parker-Hannifin

Several institutional investors have recently added to or reduced their stakes in PH. Norges Bank acquired a new position in Parker-Hannifin in the 4th quarter valued at about $665,188,000. Alphinity Investment Management Pty Ltd acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $310,208,000. FMR LLC increased its position in Parker-Hannifin by 9.6% during the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after purchasing an additional 324,063 shares during the period. Kodai Capital Management LP acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $122,449,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Parker-Hannifin by 65,634.7% during the 4th quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock worth $101,149,000 after acquiring an additional 219,220 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

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 through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.