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

Shares of Parker-Hannifin Co. (NYSE:PH) have received a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $691.40.

A number of equities research analysts have recently issued reports on the company. Barclays upped their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. TD Cowen raised their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Raymond James boosted their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Evercore ISI raised their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, KeyCorp lifted their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday.

Parker-Hannifin Trading Up 0.6 %

Shares of PH opened at $706.87 on Friday. Parker-Hannifin has a 52-week low of $426.49 and a 52-week high of $711.60. The stock has a market cap of $90.99 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.84 and a beta of 1.43. The firm’s fifty day moving average is $647.32 and its two-hundred day moving average is $580.54. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.96 earnings per share. Research analysts forecast that Parker-Hannifin will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Insider Buying and Selling at Parker-Hannifin

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now directly owns 33,607 shares in the company, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,927 shares of company stock valued at $12,807,811 in the last three months. 0.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Parker-Hannifin

A number of hedge funds have recently bought and sold shares of the stock. Stock Yards Bank & Trust Co. purchased a new stake in shares of Parker-Hannifin during the third quarter worth approximately $217,000. Anchor Investment Management LLC increased its position in shares of Parker-Hannifin by 10.5% in the 3rd quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company’s stock valued at $200,000 after purchasing an additional 30 shares during the last quarter. Unigestion Holding SA purchased a new stake in shares of Parker-Hannifin in the 3rd quarter valued at approximately $1,755,000. Arete Wealth Advisors LLC raised its holdings in shares of Parker-Hannifin by 1.2% in the 3rd quarter. Arete Wealth Advisors LLC now owns 1,936 shares of the industrial products company’s stock valued at $1,212,000 after purchasing an additional 23 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Parker-Hannifin by 1.3% during the 3rd quarter. Toronto Dominion Bank now owns 64,278 shares of the industrial products company’s stock worth $40,612,000 after purchasing an additional 848 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

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.