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

Parker-Hannifin Co. (NYSE:PH) has been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $620.14.

A number of equities analysts have commented on the stock. Truist Financial reissued a “buy” rating and issued a $673.00 price target (up previously from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Wells Fargo & Company increased their target price on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Barclays dropped their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Robert W. Baird increased their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

Insider Buying and Selling at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.03% of the company’s stock.

Institutional Trading of Parker-Hannifin

Several large investors have recently added to or reduced their stakes in PH. Chase Investment Counsel Corp boosted its stake in shares of Parker-Hannifin by 9.0% during the 2nd quarter. Chase Investment Counsel Corp now owns 1,818 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 150 shares in the last quarter. EP Wealth Advisors LLC boosted its position in Parker-Hannifin by 7.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 2,731 shares of the industrial products company’s stock valued at $1,381,000 after acquiring an additional 180 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Parker-Hannifin by 2.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 2,450 shares of the industrial products company’s stock worth $1,239,000 after acquiring an additional 64 shares during the period. Ecofi Investissements SA bought a new position in shares of Parker-Hannifin in the 2nd quarter worth approximately $741,000. Finally, Regal Investment Advisors LLC lifted its stake in shares of Parker-Hannifin by 25.9% in the 2nd quarter. Regal Investment Advisors LLC now owns 1,854 shares of the industrial products company’s stock valued at $938,000 after purchasing an additional 381 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.7 %

PH opened at $582.29 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. Parker-Hannifin has a one year low of $362.49 and a one year high of $593.28. The firm has a market capitalization of $74.85 billion, a P/E ratio of 27.44, a price-to-earnings-growth ratio of 2.35 and a beta of 1.44. The company has a fifty day moving average price of $534.44 and a 200-day moving average price of $536.88.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $6.08 EPS. Equities research analysts expect that Parker-Hannifin will post 26.61 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date of this dividend is Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) 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.