Parker-Hannifin Co. (NYSE:PH) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Parker-Hannifin Co. (NYSE:PH) have been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $624.43.

Several research analysts have commented on the stock. Barclays dropped their price objective on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Evercore ISI increased their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Truist Financial reissued a “buy” rating and set a $673.00 price objective (up previously from $621.00) on shares of Parker-Hannifin in a report on Friday, August 9th. Finally, Stifel Nicolaus dropped their price objective on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a report on Thursday, July 18th.

Parker-Hannifin Trading Up 1.0 %

Shares of Parker-Hannifin stock opened at $597.09 on Tuesday. The company has a market capitalization of $76.75 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.39 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The company has a fifty day moving average of $563.90 and a 200 day moving average of $545.56. Parker-Hannifin has a fifty-two week low of $362.49 and a fifty-two week high of $601.30.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.55. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.08 EPS. On average, sell-side analysts anticipate that Parker-Hannifin will post 26.63 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 30.73%.

Insider Buying and Selling

In related news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Parker-Hannifin

Hedge funds and other institutional investors have recently modified their holdings of the business. TD Asset Management Inc increased its holdings in Parker-Hannifin by 152.1% during the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after buying an additional 79,774 shares during the period. Daiwa Securities Group Inc. increased its holdings in Parker-Hannifin by 8.5% during the first quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock valued at $12,761,000 after buying an additional 1,802 shares during the period. Quadrature Capital Ltd purchased a new position in Parker-Hannifin during the fourth quarter valued at approximately $4,068,000. Concurrent Investment Advisors LLC increased its holdings in Parker-Hannifin by 261.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock valued at $1,397,000 after buying an additional 1,819 shares during the period. Finally, Lockheed Martin Investment Management Co. increased its holdings in Parker-Hannifin by 18.1% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 56,070 shares of the industrial products company’s stock valued at $25,831,000 after buying an additional 8,600 shares during the period. 82.44% of the stock is currently owned by institutional investors.

About Parker-Hannifin

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.