Parker-Hannifin Corporation (NYSE:PH) Receives $995.37 Consensus Price Target from Analysts

Parker-Hannifin Corporation (NYSE:PH) has earned an average rating of “Moderate Buy” from the twenty-one brokerages that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $995.3684.

Several equities research analysts have weighed in on PH shares. iA Financial set a $1,032.00 price objective on shares of Parker-Hannifin in a research report on Thursday, January 29th. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. KeyCorp reissued an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. BNP Paribas Exane started coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target for the company. Finally, Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, January 30th.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the sale, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. The trade was a 26.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares in the company, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,063 shares of company stock valued at $9,891,214 over the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Parker-Hannifin

Institutional investors have recently modified their holdings of the business. JFS Wealth Advisors LLC boosted its stake in Parker-Hannifin by 6.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 11 shares during the last quarter. Avion Wealth raised its position in shares of Parker-Hannifin by 35.5% during the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 11 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in shares of Parker-Hannifin by 1.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after purchasing an additional 11 shares during the period. Inspire Advisors LLC lifted its stake in shares of Parker-Hannifin by 1.2% in the 4th quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 11 shares during the period. Finally, 180 Wealth Advisors LLC boosted its position in shares of Parker-Hannifin by 1.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company’s stock worth $573,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $893.09 on Friday. The business’s fifty day moving average is $959.35 and its two-hundred day moving average is $860.30. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The firm has a market cap of $112.73 billion, a P/E ratio of 32.57, a P/E/G ratio of 2.87 and a beta of 1.23. Parker-Hannifin has a 52 week low of $488.45 and a 52 week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The company had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $6.53 earnings per share. Equities research analysts forecast that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were paid a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.