Parker-Hannifin Co. (NYSE:PH) Given Average Recommendation of “Moderate Buy” by Analysts

Parker-Hannifin Co. (NYSE:PH) has received a consensus rating of “Moderate Buy” from the seventeen brokerages that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $569.06.

A number of equities analysts have recently commented on PH shares. Bank of America lifted their price target on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Truist Financial reaffirmed a “buy” rating and set a $611.00 target price on shares of Parker-Hannifin in a report on Wednesday, May 15th. KeyCorp increased their price target on Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Finally, Argus increased their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th.

Insiders Place Their Bets

In other news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the sale, the vice president now directly owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sapient Capital LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at $1,392,000. abrdn plc lifted its stake in shares of Parker-Hannifin by 57.8% in the 4th quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock valued at $25,247,000 after acquiring an additional 20,073 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Parker-Hannifin during the 4th quarter valued at about $4,068,000. Turtle Creek Wealth Advisors LLC bought a new position in Parker-Hannifin during the 4th quarter worth approximately $3,305,000. Finally, Independent Advisor Alliance increased its stake in Parker-Hannifin by 8.3% in the 4th quarter. Independent Advisor Alliance now owns 16,234 shares of the industrial products company’s stock worth $7,479,000 after purchasing an additional 1,243 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $501.01 on Thursday. The firm has a market cap of $64.40 billion, a PE ratio of 23.61, a price-to-earnings-growth ratio of 2.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The stock’s fifty day moving average price is $531.05 and its two-hundred day moving average price is $516.21. Parker-Hannifin has a one year low of $362.49 and a one year high of $570.15.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.10 by $0.41. The business had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business posted $5.93 EPS. As a group, research analysts expect that Parker-Hannifin will post 24.85 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were paid a dividend of $1.63 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, May 9th. This represents a $6.52 annualized dividend and a dividend yield of 1.30%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

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.