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

Shares of Parker-Hannifin Corporation (NYSE:PH) have been assigned an average rating of “Moderate Buy” from the twenty-one research firms that are covering the company, MarketBeat reports. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $990.4737.

Several analysts recently weighed in on the company. Jefferies Financial Group upped their price objective on 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. JPMorgan Chase & Co. boosted their target price on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. BNP Paribas Exane began coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 target price for the company. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Finally, Barclays upped their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th.

Parker-Hannifin Trading Up 1.9%

Shares of Parker-Hannifin stock opened at $1,001.30 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Parker-Hannifin has a 12-month low of $488.45 and a 12-month high of $1,012.49. The company has a market capitalization of $126.38 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.23 and a beta of 1.25. The firm’s 50-day moving average price is $923.06 and its two-hundred day moving average price is $827.10.

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

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be paid a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 6th. Parker-Hannifin’s payout ratio is presently 26.26%.

Insider Buying and Selling

In related news, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction on 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 sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at $13,106,880. This trade represents a 26.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,551 shares of company stock worth $12,117,502 in the last ninety days. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

A number of hedge funds have recently added to or reduced their stakes in the stock. ING Groep NV acquired a new position in Parker-Hannifin in the 3rd quarter valued at about $26,398,000. Quadrant Capital Group LLC grew its stake in shares of Parker-Hannifin by 20.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock valued at $2,521,000 after buying an additional 604 shares during the period. Procyon Advisors LLC boosted its holdings in Parker-Hannifin by 158,565.9% in 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 acquiring an additional 5,066,179 shares during the last quarter. Wilkinson Global Asset Management LLC grew its position in Parker-Hannifin by 28.2% during the third quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock valued at $36,720,000 after acquiring an additional 10,653 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Parker-Hannifin during the second quarter worth about $733,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

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.