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

Parker-Hannifin Corporation (NYSE:PH) VP Thomas C. Gentile sold 1,133 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $729.50, for a total transaction of $826,523.50. Following the sale, the vice president directly owned 5,465 shares in the company, valued at $3,986,717.50. This trade represents a 17.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $762.20 on Thursday. The firm has a 50 day simple moving average of $702.68 and a 200-day simple moving average of $657.94. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $763.99. 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 stock has a market cap of $97.39 billion, a price-to-earnings ratio of 28.10, a price-to-earnings-growth ratio of 3.12 and a beta of 1.37.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results 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. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the prior year, the company posted $6.77 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PH shares. Barclays increased their target price on shares of Parker-Hannifin from $750.00 to $776.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Citigroup reissued a “buy” rating and set a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a research note on Monday, July 14th. Argus set a $680.00 target price on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a research note on Friday, May 16th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Parker-Hannifin in a research note on Friday, August 8th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $763.00.

Hedge Funds Weigh In On Parker-Hannifin

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Parker-Hannifin by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock worth $7,770,646,000 after purchasing an additional 101,476 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Parker-Hannifin by 52.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock worth $1,485,042,000 after purchasing an additional 842,262 shares during the period. Invesco Ltd. boosted its position in shares of Parker-Hannifin by 1.8% during the 2nd quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock worth $1,638,556,000 after purchasing an additional 41,221 shares during the period. Royal Bank of Canada boosted its position in shares of Parker-Hannifin by 99.8% during the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock worth $1,448,241,000 after purchasing an additional 1,137,564 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Parker-Hannifin by 0.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock worth $1,449,496,000 after purchasing an additional 14,534 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

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.