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Parker Hannifin's EVP-HR sells shares valued at $2.79 million

Published 11/09/2024, 06:18 AM
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Cleveland-based Parker Hannifin Corp (NYSE:PH) disclosed that Mark J. Hart, Executive Vice President of Human Resources and External Affairs, sold a significant portion of his holdings in the company. According to a recent SEC filing, Hart sold a total of 3,957 shares of Parker Hannifin common stock on November 6. The sales were executed at prices ranging from $704.58 to $705.99 per share, amounting to a total transaction value of approximately $2.79 million.

Additionally, Hart exercised stock appreciation rights, converting them into 10,220 shares of common stock at a price of $209.56 per share. Following these transactions, Hart's direct ownership in Parker Hannifin now stands at 7,063 shares.

In other recent news, Parker-Hannifin Corporation (NYSE:PH) started the fiscal year 2025 strongly, reporting record first-quarter sales of $4.9 billion, a 1.4% organic growth. The Aerospace Systems segment performed notably well, with sales surging 18% to $1.4 billion and an adjusted operating margin of 27.9%. The company's cash flow from operations also increased by 14% year-over-year, reaching $744 million. Despite some sector challenges, the company's outlook remains optimistic, with updated FY 2025 guidance predicting reported sales growth of 1.5% to 3.5%. The Aerospace and Defense organic sales growth forecast has been increased to 10%. In line with its growth objectives, the company reduced its debt by $370 million, lowering the net debt to adjusted EBITDA ratio to 1.9 times. The company's divestiture strategy is expected to impact sales by 1.5%. The industrial backlog remains steady at $4.2 billion, indicating a structural shift in customer ordering patterns. These are some of the recent developments for Parker-Hannifin Corporation.

InvestingPro Insights

Parker Hannifin's recent stock performance and financial metrics provide additional context to Mark J. Hart's decision to sell a portion of his holdings. According to InvestingPro data, the company's stock has shown remarkable strength, with a 70.02% total return over the past year and a 51.01% return year-to-date. This impressive performance has pushed the stock price to 98.04% of its 52-week high, trading at $688.14 as of the previous close.

The company's financial health appears robust, with a market capitalization of $89.67 billion and a revenue of $19.99 billion over the last twelve months. Parker Hannifin's profitability is also noteworthy, with a gross profit margin of 36.1% and an operating income margin of 20.25% for the same period.

InvestingPro Tips highlight that Parker Hannifin has raised its dividend for 8 consecutive years and has maintained dividend payments for an impressive 54 consecutive years. This consistent dividend policy underscores the company's financial stability and commitment to shareholder returns. The current dividend yield stands at 0.95%, with a dividend growth rate of 10.14% over the last twelve months.

However, investors should note that the stock is trading at a relatively high P/E ratio of 31.04, which may indicate that the stock is priced at a premium compared to its earnings. This valuation metric aligns with an InvestingPro Tip suggesting that the company is trading at a high earnings multiple.

For readers interested in a more comprehensive analysis, InvestingPro offers 18 additional tips for Parker Hannifin, providing a deeper dive into the company's financial health and market position.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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