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

Parker-Hannifin Co. (NYSE:PH) has received an average recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $569.69.

Several equities research analysts recently issued reports on PH shares. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and upped their price target for the stock from $550.00 to $650.00 in a report on Tuesday, May 28th. Wells Fargo & Company lowered their target price on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a report on Monday, May 6th. KeyCorp boosted their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Truist Financial upped their price objective on shares of Parker-Hannifin from $611.00 to $621.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Argus lifted their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research report on Monday, May 6th.

Parker-Hannifin Stock Up 0.4 %

Shares of NYSE PH opened at $512.14 on Thursday. 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 company has a 50-day moving average price of $529.47 and a 200-day moving average price of $516.93. The stock has a market capitalization of $65.83 billion, a P/E ratio of 24.18, a P/E/G ratio of 2.09 and a beta of 1.44. Parker-Hannifin has a 1 year low of $362.49 and a 1 year high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating the consensus estimate of $6.10 by $0.41. The business had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter last year, the firm earned $5.93 EPS. On average, equities research analysts forecast that Parker-Hannifin will post 24.85 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were paid a $1.63 dividend. The ex-dividend date was Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.27%. Parker-Hannifin’s payout ratio is presently 30.73%.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now 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 through the SEC website. In related news, VP Jay Reidy sold 572 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the sale, the vice president now owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Parker-Hannifin

A number of institutional investors and hedge funds have recently modified their holdings of PH. Sachetta LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $25,000. Wetzel Investment Advisors Inc. bought a new stake in Parker-Hannifin during the fourth quarter valued at $26,000. First United Bank & Trust bought a new stake in Parker-Hannifin during the fourth quarter valued at $29,000. Harbor Investment Advisory LLC increased its stake in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $30,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

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.