Parker-Hannifin Co. (NYSE:PH – Get Free Report) 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.
View Our Latest Research Report on Parker-Hannifin
Insider Buying and Selling at Parker-Hannifin
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 – Get Free Report) 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.
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