Traders Sell Shares of Parker-Hannifin (PH) on Strength (PH)

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Traders sold shares of Parker-Hannifin Corp (NYSE:PH) on strength during trading on Thursday. $49.16 million flowed into the stock on the tick-up and $78.28 million flowed out of the stock on the tick-down, for a money net flow of $29.12 million out of the stock. Of all equities tracked, Parker-Hannifin had the 0th highest net out-flow for the day. Parker-Hannifin traded up $0.73 for the day and closed at $171.00

A number of equities research analysts have recently weighed in on PH shares. Jefferies Financial Group reaffirmed a “$162.10” rating and set a $170.00 price target on shares of Parker-Hannifin in a research note on Wednesday, July 18th. BMO Capital Markets reaffirmed a “buy” rating and set a $190.00 price target on shares of Parker-Hannifin in a research note on Thursday, July 19th. Robert W. Baird set a $190.00 price target on Parker-Hannifin and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Buckingham Research raised Parker-Hannifin from a “neutral” rating to a “buy” rating in a research note on Friday, September 14th. Finally, Stifel Nicolaus raised their price objective on Parker-Hannifin from $200.00 to $212.00 and gave the company a “buy” rating in a research note on Monday, September 24th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $186.72.

The company has a quick ratio of 1.07, a current ratio of 1.60 and a debt-to-equity ratio of 0.71. The company has a market cap of $22.65 billion, a price-to-earnings ratio of 16.06, a P/E/G ratio of 1.31 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, November 1st. The industrial products company reported $2.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.31. Parker-Hannifin had a return on equity of 25.49% and a net margin of 7.98%. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period last year, the business earned $2.24 EPS. The firm’s revenue was up 3.4% compared to the same quarter last year. Equities analysts anticipate that Parker-Hannifin Corp will post 11.57 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be issued a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Thursday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.17%.

In other Parker-Hannifin news, VP William R. Bowman sold 2,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $175.36, for a total value of $420,864.00. Following the sale, the vice president now owns 1,325 shares of the company’s stock, valued at approximately $232,352. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph R. Leonti sold 1,605 shares of the firm’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $176.56, for a total value of $283,378.80. Following the completion of the sale, the vice president now directly owns 15,731 shares in the company, valued at approximately $2,777,465.36. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vulcan Value Partners LLC grew its holdings in Parker-Hannifin by 97.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 3,178,193 shares of the industrial products company’s stock valued at $495,321,000 after buying an additional 1,569,099 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Parker-Hannifin by 9.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,942,573 shares of the industrial products company’s stock valued at $541,228,000 after buying an additional 258,502 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Parker-Hannifin by 27.5% in the 2nd quarter. Janus Henderson Group PLC now owns 2,541,885 shares of the industrial products company’s stock valued at $396,154,000 after buying an additional 548,399 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Parker-Hannifin by 1.0% during the 2nd quarter. Northern Trust Corp now owns 1,646,375 shares of the industrial products company’s stock worth $256,588,000 after purchasing an additional 16,377 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of Parker-Hannifin by 5.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,612,883 shares of the industrial products company’s stock worth $251,368,000 after purchasing an additional 77,837 shares in the last quarter. 79.34% of the stock is currently owned by hedge funds and other institutional investors.

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About Parker-Hannifin (NYSE:PH)

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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