Parker-Hannifin Corporation (NYSE:PH) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Parker-Hannifin Corporation (NYSE:PH) have earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. Four research 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 $719.41.

Several analysts have recently commented on the company. KeyCorp increased their target price on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Wells Fargo & Company raised their price target on Parker-Hannifin from $670.00 to $770.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 1st. Citigroup dropped their price target on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Finally, Truist Financial lowered their price target on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president directly owned 2,083 shares of the company’s stock, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PH. Brighton Jones LLC lifted its holdings in Parker-Hannifin by 5.9% during the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after buying an additional 101 shares during the last quarter. Bank Pictet & Cie Europe AG increased its position in Parker-Hannifin by 0.8% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company’s stock worth $4,617,000 after purchasing an additional 55 shares during the period. SBI Securities Co. Ltd. acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $49,000. Proficio Capital Partners LLC boosted its stake in shares of Parker-Hannifin by 83.1% during the 4th quarter. Proficio Capital Partners LLC now owns 1,793 shares of the industrial products company’s stock worth $1,140,000 after acquiring an additional 814 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in Parker-Hannifin by 76.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 118 shares of the industrial products company’s stock valued at $75,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.1%

Shares of NYSE PH opened at $719.15 on Monday. Parker-Hannifin has a one year low of $488.45 and a one year high of $720.90. The firm has a market capitalization of $91.89 billion, a PE ratio of 27.69, a PEG ratio of 3.10 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average price of $662.00 and a two-hundred day moving average price of $643.86.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $6.51 EPS. As a group, analysts predict that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a dividend of $1.80 per share. The ex-dividend date was Friday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.00%. Parker-Hannifin’s dividend payout ratio is presently 27.72%.

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.