Thomas C. Gentile Sells 1,133 Shares of Parker-Hannifin Corporation (NYSE:PH) Stock

Key Points

• Thomas C. Gentile, VP of Parker-Hannifin Corporation, sold 1,133 shares for approximately $826,523.50, resulting in a 17.17% decrease in his position, which now totals 5,465 shares valued at about $3,986,717.50.
• Parker-Hannifin reported strong quarterly earnings of $7.69 per share, exceeding the estimate by $0.61, with revenues of $5.24 billion, surpassing analysts' expectations.
• Analysts have raised price targets for Parker-Hannifin with a consensus target of $763.00, marking a steady outlook with thirteen buy ratings and five hold ratings from research firms.

Parker-Hannifin Corporation (NYSE:PH - Get Free Report) VP Thomas C. Gentile sold 1,133 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $729.50, for a total value of $826,523.50. Following the completion of the transaction, the vice president owned 5,465 shares in the company, valued at approximately $3,986,717.50. The trade was a 17.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded up $21.60 on Tuesday, hitting $752.26. 604,698 shares of the company traded hands, compared to its average volume of 756,936. The firm's 50-day simple moving average is $699.00 and its 200 day simple moving average is $656.55. 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 cap of $96.12 billion, a P/E ratio of 27.74, a P/E/G ratio of 3.11 and a beta of 1.37. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $752.87.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PH. Brighton Jones LLC increased its position in shares of Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after acquiring an additional 101 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in Parker-Hannifin by 0.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock worth $4,617,000 after acquiring an additional 55 shares during the period. Townsquare Capital LLC lifted its stake in Parker-Hannifin by 2.0% in the fourth quarter. Townsquare Capital LLC now owns 5,379 shares of the industrial products company's stock worth $3,421,000 after acquiring an additional 104 shares during the period. Sagespring Wealth Partners LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth $941,000. Finally, Savvy Advisors Inc. lifted its stake in Parker-Hannifin by 14.2% in the fourth quarter. Savvy Advisors Inc. now owns 755 shares of the industrial products company's stock worth $480,000 after acquiring an additional 94 shares during the period. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on PH shares. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $717.00 to $726.00 and gave the stock a "hold" rating in a report on Friday. Citigroup reaffirmed a "buy" rating and issued a $831.00 price objective (up from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Parker-Hannifin in a report on Friday. Morgan Stanley raised their price objective on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Finally, Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $770.00 to $800.00 and gave the stock an "overweight" rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $763.00.

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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