Dinu Parel, Vice President of Parker-Hannifin Corporation (NYSE: PH), executed a significant stock sale on February 2, 2024. Parel sold 1,316 shares at an average price of **$950.05**, resulting in a total transaction value of **$1,250,265.80**. Following this sale, Parel retains ownership of **6,534 shares**, which are currently valued at approximately **$6,207,626.70**. This transaction marks a **16.76%** decrease in Parel’s holdings in the company.
The sale was formally disclosed in a legal filing with the U.S. Securities and Exchange Commission (SEC). Details regarding the filing can be accessed through official channels.
Current Stock Performance and Financial Overview
As of Thursday, February 8, 2024, shares of Parker-Hannifin opened at **$968.36**. The company has a market capitalization of **$122.23 billion** and a price-to-earnings (PE) ratio of **35.32**. Additionally, the price-to-earnings-growth (PEG) ratio stands at **3.29**, while the stock carries a beta of **1.25**.
Parker-Hannifin’s financial metrics indicate a **50-day moving average** of **$903.97** and a **200-day moving average** of **$812.05**. The firm maintains a debt-to-equity ratio of **0.52**, a current ratio of **1.18**, and a quick ratio of **0.66**. The stock has fluctuated between a one-year low of **$488.45** and a one-year high of **$979.44**.
The company recently reported its quarterly earnings on January 29, 2024. Parker-Hannifin achieved earnings per share (EPS) of **$7.65**, surpassing analysts’ expectations of **$7.11** by **$0.54**. Revenue for the quarter reached **$5.17 billion**, exceeding the forecasted **$5.07 billion**. The firm boasts a net margin of **17.29%** and a return on equity of **27.56%**. Year-over-year revenue growth was reported at **9.1%**, up from **$6.53 EPS** during the same quarter last year.
Analysts predict that Parker-Hannifin will post an EPS of **$26.71** for the current year.
Institutional Trading and Analyst Ratings
Recent shifts in institutional trading have seen various hedge funds and investors modifying their positions in Parker-Hannifin. Notably, Quadrant Capital Group LLC increased its stake by **20.1%** in the second quarter, now holding **3,610 shares** valued at **$2,521,000**. Procyon Advisors LLC made a remarkable increase of **158,565.9%** during the third quarter, acquiring **5,069,374 shares** worth **$3,843,346,000**. Other notable changes include Bank Julius Baer & Co. Ltd Zurich purchasing a new position valued at approximately **$733,000** and Wilkinson Global Asset Management LLC raising its stake by **28.2%**.
Currently, **82.44%** of Parker-Hannifin’s stock is held by institutional investors and hedge funds, indicating strong institutional interest.
Parker-Hannifin has also attracted attention from analysts. Industrial Alliance Securities recently set a target price of **$1,032.00**, while Argus reiterated a “buy” rating with a price objective of **$900.00**. In a recent report, Wall Street Zen upgraded the stock from a “hold” to a “buy” rating. Barclays has raised its target from **$990.00** to **$1,020.00**, maintaining an “overweight” rating.
Overall, **seventeen analysts** have rated Parker-Hannifin as a “buy,” with an average target price of **$990.47**, leading to a consensus rating of “Moderate Buy.”
Parker-Hannifin Corporation is recognized globally for its manufacturing and provision of motion and control technologies. The company specializes in engineered components and systems that manage the movement and flow of liquids, gases, and hydraulic power across various industries, including industrial manufacturing and aerospace.
