Parker-Hannifin Corp (NYSE:PH) CEO Thomas L. Williams sold 32,109 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $180.68, for a total value of $5,801,454.12. Following the sale, the chief executive officer now owns 130,176 shares in the company, valued at $23,520,199.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
PH traded up $3.17 on Wednesday, reaching $184.46. The company’s stock had a trading volume of 1,065,457 shares, compared to its average volume of 888,271. The stock has a market cap of $22.79 billion, a price-to-earnings ratio of 15.57, a price-to-earnings-growth ratio of 1.62 and a beta of 1.56. Parker-Hannifin Corp has a 1 year low of $140.82 and a 1 year high of $193.19. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.43 and a quick ratio of 1.90. The business’s 50 day moving average is $167.07 and its 200 day moving average is $170.42.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.09 by $0.22. Parker-Hannifin had a return on equity of 26.11% and a net margin of 10.56%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the business earned $3.22 EPS. Parker-Hannifin’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, research analysts forecast that Parker-Hannifin Corp will post 11.95 earnings per share for the current fiscal year.
Several equities analysts recently commented on PH shares. Wells Fargo & Co lowered Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $175.00 price target on the stock. in a research report on Wednesday, July 10th. JPMorgan Chase & Co. downgraded shares of Parker-Hannifin from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $186.00 to $169.00 in a research report on Wednesday, July 10th. Zacks Investment Research lowered shares of Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 price objective on the stock. in a research note on Wednesday, July 17th. Bank of America cut shares of Parker-Hannifin from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. Finally, Morgan Stanley upped their target price on shares of Parker-Hannifin from $173.00 to $177.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Parker-Hannifin currently has an average rating of “Hold” and an average price target of $176.55.
Hedge funds have recently added to or reduced their stakes in the company. Ibex Wealth Advisors bought a new position in Parker-Hannifin during the 2nd quarter valued at $27,000. Private Capital Group LLC grew its holdings in Parker-Hannifin by 126.3% during the 2nd quarter. Private Capital Group LLC now owns 172 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 96 shares in the last quarter. Trustcore Financial Services LLC acquired a new position in Parker-Hannifin during the 1st quarter worth $34,000. TRUE Private Wealth Advisors bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth about $34,000. Finally, HMS Capital Management LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth about $36,000. 82.75% of the stock is owned by institutional investors and hedge funds.
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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