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

Shares of Parker-Hannifin Co. (NYSE:PH) have been given a consensus recommendation of “Moderate Buy” by the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $539.56.

Several brokerages have issued reports on PH. KeyCorp upped their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Wells Fargo & Company cut their price target on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research report on Monday. Evercore ISI lifted their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Finally, Argus increased their target price on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin 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 $2,305,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jay Reidy sold 572 shares of the 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 owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Hedge funds and other institutional investors have recently bought and sold shares of the business. OFI Invest Asset Management bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Sachetta LLC bought a new stake in Parker-Hannifin in the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth $26,000. Baystate Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares in the last quarter. Finally, First United Bank & Trust bought a new position in Parker-Hannifin in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $550.14 on Wednesday. The firm has a 50 day simple moving average of $545.73 and a two-hundred day simple moving average of $486.41. 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 has a market cap of $70.64 billion, a PE ratio of 25.93, a P/E/G ratio of 1.94 and a beta of 1.51. Parker-Hannifin has a one year low of $319.14 and a one year high of $570.15.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the firm earned $5.93 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. On average, analysts predict that Parker-Hannifin will post 24.62 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued a $1.63 dividend. The ex-dividend date is Thursday, May 9th. This represents a $6.52 annualized dividend and a yield of 1.19%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is 27.90%.

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.