Thomas C. Gentile Sells 2,978 Shares of Parker-Hannifin Co. (NYSE:PH) Stock

Parker-Hannifin Co. (NYSE:PHGet Free Report) VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Parker-Hannifin Stock Up 0.5 %

Shares of PH opened at $514.21 on Thursday. The firm has a market cap of $66.07 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 1.99 and a beta of 1.50. The company’s fifty day moving average is $461.36 and its two-hundred day moving average is $423.28. Parker-Hannifin Co. has a fifty-two week low of $300.86 and a fifty-two week high of $517.51. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PHGet Free Report) last issued its earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm posted $4.76 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. Analysts forecast that Parker-Hannifin Co. will post 24.15 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Friday, February 9th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Hedge Funds Weigh In On Parker-Hannifin

A number of hedge funds have recently made changes to their positions in the business. Beaumont Asset Management L.L.C. raised its stake in shares of Parker-Hannifin by 0.8% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after acquiring an additional 24 shares during the period. Moors & Cabot Inc. increased its stake in Parker-Hannifin by 1.0% during the 2nd quarter. Moors & Cabot Inc. now owns 2,520 shares of the industrial products company’s stock worth $983,000 after buying an additional 25 shares during the period. Wilbanks Smith & Thomas Asset Management LLC increased its stake in Parker-Hannifin by 0.7% during the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after buying an additional 25 shares during the period. M&R Capital Management Inc. increased its stake in Parker-Hannifin by 25.0% during the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after buying an additional 25 shares during the period. Finally, Private Trust Co. NA increased its stake in Parker-Hannifin by 0.7% during the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $1,730,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 82.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $551.00 price target on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Wolfe Research restated a “peer perform” rating on shares of Parker-Hannifin in a research report on Monday, December 11th. KeyCorp raised their target price on shares of Parker-Hannifin from $500.00 to $575.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Barclays raised their target price on shares of Parker-Hannifin from $500.00 to $558.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating and raised their target price for the stock from $462.00 to $506.00 in a research report on Thursday, November 9th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $480.93.

Check Out Our Latest Stock Analysis on PH

About Parker-Hannifin

(Get Free Report)

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.

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