Investors Sell Shares of Parker-Hannifin (PH) on Strength (PH)

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Investors sold shares of Parker-Hannifin Corp (NYSE:PH) on strength during trading on Tuesday. $28.27 million flowed into the stock on the tick-up and $93.43 million flowed out of the stock on the tick-down, for a money net flow of $65.16 million out of the stock. Of all stocks tracked, Parker-Hannifin had the 9th highest net out-flow for the day. Parker-Hannifin traded up $1.97 for the day and closed at $172.07

Several research analysts have recently weighed in on the stock. Buckingham Research lowered their price target on shares of Parker-Hannifin from $210.00 to $195.00 and set a “hold” rating on the stock in a research report on Friday, April 27th. BMO Capital Markets reissued a “buy” rating and set a $190.00 price target on shares of Parker-Hannifin in a research report on Thursday, July 19th. ValuEngine raised shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Zacks Investment Research raised shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a research report on Tuesday, August 7th. Finally, Citigroup decreased their target price on shares of Parker-Hannifin from $205.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, April 30th. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Parker-Hannifin has an average rating of “Hold” and a consensus target price of $188.12.

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.59. The stock has a market cap of $22.55 billion, a P/E ratio of 16.41, a PEG ratio of 1.33 and a beta of 1.42.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 2nd. The industrial products company reported $3.22 EPS for the quarter, beating the Zacks’ consensus estimate of $2.91 by $0.31. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the company posted $2.45 earnings per share. Parker-Hannifin’s revenue for the quarter was up 9.2% compared to the same quarter last year. research analysts predict that Parker-Hannifin Corp will post 11.35 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Tuesday, August 28th will be given a $0.76 dividend. The ex-dividend date is Monday, August 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.77%. Parker-Hannifin’s payout ratio is currently 29.17%.

In other Parker-Hannifin news, VP Catherine A. Suever sold 2,148 shares of the company’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $175.13, for a total value of $376,179.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.12% of the company’s stock.

Large investors have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. increased its stake in Parker-Hannifin by 5,815.4% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 756 shares during the period. Signaturefd LLC purchased a new stake in Parker-Hannifin during the first quarter worth about $128,000. Private Capital Group LLC increased its stake in Parker-Hannifin by 272.2% during the first quarter. Private Capital Group LLC now owns 882 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 645 shares during the period. Manchester Capital Management LLC increased its stake in Parker-Hannifin by 55.9% during the second quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 350 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new stake in Parker-Hannifin during the second quarter worth about $202,000. Institutional investors own 80.96% of the company’s stock.

About Parker-Hannifin (NYSE:PH)

Parker-Hannifin Corp. is a manufacturer of motion and control technologies and systems, providing engineered solutions for mobile, industrial and aerospace markets. It operates through the following segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment offers products to original equipment manufacturers.

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