Insider Selling: Parker-Hannifin Corporation (NYSE:PH) VP Sells 2,257 Shares of Stock

Key Points

• Parker-Hannifin's VP, Robert W. Malone, sold 2,257 shares at an average price of $730.66, impacting his ownership by 27.79%.
• The company reported $7.69 earnings per share, exceeding analyst estimates, with a revenue of $5.24 billion in the last quarter.
• Brokerages have set new price targets for Parker-Hannifin, with Citigroup raising its target to $831.00, increasing from a previous target of $709.00.

Parker-Hannifin Corporation (NYSE:PH - Get Free Report) VP Robert W. Malone sold 2,257 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the sale, the vice president owned 5,866 shares in the company, valued at approximately $4,286,051.56. This trade represents a 27.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Parker-Hannifin Price Performance

Shares of PH stock traded up $21.60 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 stock's fifty day simple moving average is $699.00 and its 200-day simple moving average is $656.55. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $752.87. The company has a current ratio of 1.19, a quick ratio of 0.71 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $96.12 billion, a price-to-earnings ratio of 27.74, a price-to-earnings-growth ratio of 3.11 and a beta of 1.37.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results 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 firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. Parker-Hannifin's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm posted $6.77 earnings per share. Analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on PH. Citigroup reissued a "buy" rating and issued a $831.00 target price (up previously from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Parker-Hannifin in a research report on Friday. Barclays boosted their target price on Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a research report on Friday. Evercore ISI upped their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Finally, Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research report on Friday, May 16th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $763.00.

Hedge Funds Weigh In On Parker-Hannifin

Several hedge funds have recently added to or reduced their stakes in PH. Wealth Preservation Advisors LLC bought a new stake in shares of Parker-Hannifin in the first quarter valued at about $27,000. Saudi Central Bank purchased a new stake in Parker-Hannifin in the first quarter valued at approximately $31,000. Interchange Capital Partners LLC acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $32,000. Finally, Olde Wealth Management LLC purchased a new position in shares of Parker-Hannifin during the 1st quarter valued at approximately $35,000. 82.44% of the stock is currently owned by institutional investors.

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.

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