Parker-Hannifin Corporation (NYSE:PH) Given Average Recommendation of “Moderate Buy” by Analysts

Parker-Hannifin Corporation (NYSE:PH) has earned a consensus rating of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $996.60.

Several research analysts recently commented on PH shares. Wells Fargo & Company cut their price target on Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Citigroup boosted their price target on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Finally, BMO Capital Markets started coverage on Parker-Hannifin in a report on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price objective for the company.

Parker-Hannifin Trading Down 0.1%

NYSE:PH opened at $910.89 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. Parker-Hannifin has a one year low of $511.33 and a one year high of $1,034.96. The business’s 50-day simple moving average is $950.36 and its 200 day simple moving average is $876.81. The stock has a market cap of $114.97 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 2.92 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same period in the previous year, the business earned $6.53 EPS. The business’s revenue was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Insider Transactions at Parker-Hannifin

In related 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 value 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 $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,063 shares of company stock valued at $9,891,214 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Parker-Hannifin

Several hedge funds and other institutional investors have recently bought and sold shares of PH. Vanguard Group Inc. grew its holdings in shares of Parker-Hannifin by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after purchasing an additional 33,606 shares during the last quarter. Procyon Advisors LLC grew its holdings in shares of Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Parker-Hannifin by 0.6% during the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after purchasing an additional 22,305 shares during the last quarter. Capital World Investors grew its holdings in shares of Parker-Hannifin by 0.6% during the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after purchasing an additional 16,703 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Parker-Hannifin by 0.6% during the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock valued at $1,674,132,000 after purchasing an additional 13,309 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Company Profile

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.