Parker-Hannifin (NYSE:PH) Raised to Buy at StockNews.com

StockNews.com upgraded shares of Parker-Hannifin (NYSE:PH) from a hold rating to a buy rating in a report released on Saturday morning.

Other research analysts also recently issued research reports about the stock. Evercore ISI upped their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an outperform rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a buy rating in a research note on Friday, August 9th. Barclays boosted their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an overweight rating in a research note on Wednesday, October 2nd. TD Cowen increased their target price on Parker-Hannifin from $500.00 to $520.00 and gave the stock a hold rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus boosted their price target on Parker-Hannifin from $633.00 to $691.00 and gave the company a buy rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $655.93.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $643.53 on Friday. Parker-Hannifin has a 12 month low of $362.49 and a 12 month high of $645.90. The firm has a market capitalization of $82.72 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43. The business’s 50 day simple moving average is $598.57 and its 200-day simple moving average is $557.54. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the business posted $6.08 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts forecast that Parker-Hannifin will post 26.64 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Insider Buying and Selling

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Parker-Hannifin by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock worth $5,872,694,000 after buying an additional 105,475 shares in the last quarter. Boston Partners grew its holdings in shares of Parker-Hannifin by 4.1% during the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after purchasing an additional 43,535 shares in the last quarter. Legal & General Group Plc increased its position in shares of Parker-Hannifin by 1.3% during the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after purchasing an additional 12,615 shares during the period. AMF Tjanstepension AB raised its stake in shares of Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in Parker-Hannifin by 11.6% in the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock worth $378,572,000 after purchasing an additional 76,629 shares during the period. 82.44% of the stock is owned by 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.