Marten Transport Ltd (MRTN), Amgen Inc. (AMGN) and Parker-Hannifin Corp (PH) Witness Striking Insider Selling

Stable Income-Paying Industrial Stock Jettisoned by Executives

Last but not least, two executives at Parker-Hannifin Corp (NYSE:PH) sold shares this past week. John R. Greco, President of the Instrumentation Group and Vice President, discarded 4,300 shares on Thursday at a weighted average price of $116.42, cutting his ownership to 12,476 shares. William G. Eline, Vice President and Chief Information Officer, filed earlier this week to disclose the sale of a 4,300-share block at a weighted average sale price of $116.51, which trimmed his stake to 15,794 shares.

Parker-Hannifin operates as a diversified manufacturer of motion and control technologies and systems, offering precision engineered solutions for various mobile, industrial, and aerospace markets. The company is highly exposed to international markets, so the recent weakening of the U.S dollar against major global currencies is anticipated to have a positive impact on the industrial company’s financial performance (assuming the weakness of the green buck is not short-lived). Parker-Hannifin recorded net sales of $8.40 billion for the nine months that ended March 31, down from a much higher figure of $9.57 billion reported for the same period of the prior fiscal year.

It is important to note that Parker-Hannifin boasts a dividend yield of 2.22%, while the company’s payout ratio for the nine months that ended March 31 was only 45%. The company has paid 264 consecutive quarterly dividends and has increased its annual dividend payment for 60 consecutive years, ranking it as one of the top-five companies with the longest current runs of annual dividend increases among S&P 500 companies. Columbus Circle Investors, managed by Clifford G. Fox, purchased a new stake of 75,588 shares of Parker-Hannifin Corp (NYSE:PH) during the January-to-March quarter.

Disclosure: None