Parker-Hannifin Corporation (NYSE:PH) VP Sells $421,509.50 in Stock

Key Points

• Parker-Hannifin VP Matthew A. Jacobson sold 575 shares for a total of $421,509.50, reducing his position by 36.51%.
• The company reported $7.69 EPS for the last quarter, exceeding analysts' expectations of $7.08, with revenue reaching $5.24 billion.
• Analysts have a consensus rating of "Moderate Buy" for Parker-Hannifin, with a price target averaging $763.00.

Parker-Hannifin Corporation (NYSE:PH - Get Free Report) VP Matthew A. Jacobson sold 575 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $733.06, for a total transaction of $421,509.50. Following the sale, the vice president directly owned 1,000 shares of the company's stock, valued at $733,060. The trade was a 36.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded up $21.60 during midday trading on Tuesday, hitting $752.26. The company's stock had a trading volume of 604,698 shares, compared to its average volume of 756,936. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The business's 50 day simple moving average is $699.00 and its 200 day simple moving average is $656.55. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $752.87. The company has a market cap of $96.12 billion, a P/E 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 issued its earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the previous year, the firm earned $6.77 earnings per share. Parker-Hannifin's quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PH shares. Barclays lifted their price objective on shares of Parker-Hannifin from $750.00 to $776.00 and gave the stock an "overweight" rating in a research note on Friday. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Citigroup reiterated a "buy" rating and issued a $831.00 price objective (up previously from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research report on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Parker-Hannifin in a research report on Friday. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $763.00.

Institutional Investors Weigh In On Parker-Hannifin

A number of institutional investors have recently made changes to their positions in PH. GAMMA Investing LLC increased its position in shares of Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after acquiring an additional 1,732,791 shares during the last quarter. Nuveen LLC acquired a new position in shares of Parker-Hannifin in the first quarter valued at approximately $933,089,000. Royal Bank of Canada grew its holdings in shares of Parker-Hannifin by 99.8% in the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after purchasing an additional 1,137,564 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Parker-Hannifin by 52.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock valued at $1,485,042,000 after purchasing an additional 842,262 shares in the last quarter. Finally, Capital World Investors acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $418,174,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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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