Parker Hannifin Vice President Robert Malone Sells $2.76 Million in Stock By Investing.com
CLEVELAND—Robert W. Malone, Vice President and Group President of the Settlements at Parker Hannifin Corp (NYSE:PH), sold 3,945 shares of the company’s common stock, according to the latest SEC filing. The shares were traded at an average price of $700.24, which is worth about $2.76 million.
The transaction took place on November 6, 2024, and was part of a series of transactions by Malone. In addition to the sale, Malone acquired 10,220 shares by exercising stock appreciation rights at a price of $209.56 per share, resulting in a total value of approximately $2.14 million. In addition, Malone disposed of 6,275 shares to pay taxes at a price of $698.42, which is approximately $4.38 million.
Following this transaction, Malone now directly owns 5,866 shares of Parker Hannifin common stock. In addition, he has an indirect interest of 901.66 shares through the Parker Retirement Savings and Savings Replacement Plan.
In other recent news, Parker-Hannifin Corporation (NYSE: ) reported a strong start to fiscal year 2025, with first quarter sales of $4.9 billion, marking organic growth of 1.4%. The Aerospace Systems segment performed remarkably well, with sales up 18% to $1.4 billion and an adjusted operating margin of 27.9%. The company also saw a 14% year-over-year increase in cash flow from operations, reaching $744 million.
Despite some industry challenges, the company remains optimistic, with revised guidance for FY 2025 predicting reported sales growth of 1.5% to 3.5%. Parker-Hannifin also reduced its debt by $370 million, reducing its total debt to adjusted EBITDA ratio to 1.9 times.
In terms of future expectations, the company predicts Q2 sales of $4.8 billion with organic growth of 1% and adjusted EPS of $6.15. Adjusted EPS for the full year is forecast at $26.70, with a range of plus or minus $0.35.
These latest developments reflect Parker-Hannifin’s strategic focus on maintaining strong sales growth and cash flow, despite some industry-specific challenges. The company’s strong performance in the Aerospace Systems segment and its commitment to capital expenditure set a positive tone for the coming financial year.
InvestingPro Insights
Parker Hannifin Corp (NYSE:PH) continues to show strong market performance, as evidenced by recent insider transactions and key financial metrics. According to InvestingPro data, the company’s market capitalization reaches $89.67 billion, indicating its significant presence in the Machinery industry.
The company’s shares have shown remarkable momentum, with a total price gain of 70.02% over the past year and a gain of 51.01% year to date. This is in line with InvestingPro’s tip indicating that Parker Hannifin has achieved “high returns over the past year.” The stock’s current price is also trading near its 52-week high, at 98.04% of that level, suggesting continued investor confidence.
Parker Hannifin’s commitment to shareholder value is reflected in its dividend history. The InvestingPro tip highlights that the company has “maintained dividend payments for 54 consecutive years,” indicating long-term financial stability. paid a dividend of 0.95 %.
Although the company’s P/E ratio of 31.04 indicates a premium valuation, this should be considered in the context of its strong market position and consistent performance. Investors looking for a comprehensive analysis can access more information through InvestingPro, which offers 18 more tips from Parker Hannifin, providing a deeper understanding of the company’s financial health and market prospects.
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