Angela R. Ives Sells 810 Shares of Parker-Hannifin Corporation (NYSE:PH) Stock

Key Points

• Angela R. Ives, VP of Parker-Hannifin, sold 810 shares at an average price of $727.36, totaling approximately $589,161.60, resulting in a 22.45% reduction in her holdings.
• Parker-Hannifin reported quarterly earnings of $7.69 per share, exceeding analysts' expectations and showing a 1.1% revenue increase to $5.24 billion compared to the previous year.
• The company's stock has a market cap of $96.12 billion and a current consensus rating of "Moderate Buy" from analysts, with an average price target of $763.00.

Parker-Hannifin Corporation (NYSE:PH - Get Free Report) VP Angela R. Ives sold 810 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $727.36, for a total value of $589,161.60. Following the sale, the vice president owned 2,798 shares in the company, valued at approximately $2,035,153.28. The trade was a 22.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Parker-Hannifin Price Performance

NYSE PH traded up $21.60 during trading hours on Tuesday, reaching $752.26. The company's stock had a trading volume of 604,698 shares, compared to its average volume of 756,936. The firm has a market capitalization of $96.12 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 3.11 and a beta of 1.37. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $752.87. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The company's 50-day moving average is $699.00 and its two-hundred day moving average is $656.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. The company had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.10 billion. During the same quarter in the prior year, the firm posted $6.77 EPS. Parker-Hannifin's quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Analyst Ratings Changes

PH has been the topic of several research analyst reports. Mizuho set a $785.00 price target on Parker-Hannifin in a research note on Friday, May 16th. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a report on Friday. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a report on Friday. Morgan Stanley boosted their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Finally, KeyCorp boosted their price objective on Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average target price of $763.00.

Institutional Investors Weigh In On Parker-Hannifin

Large investors have recently bought and sold shares of the company. Wealth Preservation Advisors LLC purchased a new stake in shares of Parker-Hannifin in the first quarter valued at approximately $27,000. Saudi Central Bank purchased a new stake in shares of Parker-Hannifin in the first quarter valued at approximately $31,000. Interchange Capital Partners LLC purchased a new stake in shares of Parker-Hannifin in the second quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $32,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Parker-Hannifin in the first quarter valued at approximately $35,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

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.

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