Insider Selling: Parker-Hannifin Corporation (NYSE:PH) VP Sells 278 Shares of Stock

Key Points

• Berend Bracht, Vice President of Parker-Hannifin Corporation, sold 278 shares at an average price of $728.44, totaling over $202,500, which decreased his holdings by 5.41%.
• Parker-Hannifin reported quarterly earnings of $7.69 per share, exceeding analysts' expectations of $7.08, alongside a revenue of $5.24 billion.
• Analysts have a "Moderate Buy" rating on Parker-Hannifin stock, with price targets ranging from $726.00 to $827.00.

Parker-Hannifin Corporation (NYSE:PH - Get Free Report) VP Berend Bracht sold 278 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $728.44, for a total transaction of $202,506.32. Following the transaction, the vice president directly owned 4,858 shares in the company, valued at $3,538,761.52. The trade was a 5.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Parker-Hannifin Trading Down 2.1%

Shares of Parker-Hannifin stock traded down $15.66 on Friday, reaching $729.68. The company had a trading volume of 716,118 shares, compared to its average volume of 741,857. The firm has a market cap of $93.24 billion, a price-to-earnings ratio of 26.91, a P/E/G ratio of 3.03 and a beta of 1.37. 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 firm's 50-day moving average price is $705.53 and its two-hundred day moving average price is $658.60. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $763.99.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating analysts' consensus estimates of $7.08 by $0.61. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%. The company's revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $6.77 earnings per share. As a group, research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Preservation Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 1st quarter worth $27,000. Saudi Central Bank acquired a new stake in Parker-Hannifin in the 1st quarter valued at $31,000. Interchange Capital Partners LLC acquired a new stake in Parker-Hannifin in the 2nd quarter valued at $31,000. Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at $32,000. Finally, Olde Wealth Management LLC acquired a new stake in Parker-Hannifin in the 1st quarter valued at $35,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on PH shares. Barclays boosted their price target on shares of Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, May 6th. KeyCorp lifted their target price on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Susquehanna assumed coverage on shares of Parker-Hannifin in a research report on Friday. They issued a "positive" rating and a $860.00 target price on the stock. Finally, Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $768.71.

About Parker-Hannifin

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.