Insider Selling: Parker-Hannifin Corp (NYSE:PH) EVP Sells 2,250 Shares of Stock
Parker-Hannifin Corp (NYSE:PH) EVP Mark J. Hart sold 2,250 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $183.35, for a total value of $412,537.50. Following the completion of the transaction, the executive vice president now directly owns 10,849 shares in the company, valued at approximately $1,989,164.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of PH traded up $0.63 during trading hours on Friday, hitting $182.23. 788,323 shares of the stock traded hands, compared to its average volume of 887,988. The company has a current ratio of 2.43, a quick ratio of 1.90 and a debt-to-equity ratio of 1.09. Parker-Hannifin Corp has a 1-year low of $140.82 and a 1-year high of $193.19. The firm has a market capitalization of $23.30 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 1.66 and a beta of 1.56. The business has a fifty day moving average of $167.24 and a 200-day moving average of $170.46.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $3.31 earnings per share (EPS) for the quarter, beating 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 business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the firm posted $3.22 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts expect that Parker-Hannifin Corp will post 11.95 earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Ibex Wealth Advisors acquired a new position in Parker-Hannifin in the second quarter valued at about $27,000. Private Capital Group LLC lifted its stake in Parker-Hannifin by 126.3% in the second quarter. Private Capital Group LLC now owns 172 shares of the industrial products company’s stock valued at $27,000 after buying an additional 96 shares during the period. Trustcore Financial Services LLC acquired a new position in Parker-Hannifin in the first quarter valued at about $34,000. TRUE Private Wealth Advisors acquired a new position in Parker-Hannifin in the second quarter valued at about $34,000. Finally, HMS Capital Management LLC acquired a new position in Parker-Hannifin in the second quarter valued at about $36,000. 82.75% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have commented on PH shares. Bank of America lowered Parker-Hannifin from a “buy” rating to a “neutral” rating in a research note on Friday, July 12th. Goldman Sachs Group lowered Parker-Hannifin from a “neutral” rating to a “sell” rating and cut their price target for the company from $178.00 to $150.00 in a research note on Tuesday, July 16th. JPMorgan Chase & Co. lowered Parker-Hannifin from an “overweight” rating to a “neutral” rating and cut their price target for the company from $186.00 to $169.00 in a research note on Wednesday, July 10th. 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 note on Wednesday, July 10th. Finally, Morgan Stanley upped their price target on 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 analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. Parker-Hannifin has an average rating of “Hold” and an average target price of $176.55.
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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