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

Shares of Parker-Hannifin Co. (NYSE:PH) have received an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $515.38.

A number of equities research analysts have recently weighed in on the company. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Truist Financial began coverage on shares of Parker-Hannifin in a research note on Thursday, March 14th. They set a “buy” rating and a $602.00 price target for the company. Finally, KeyCorp increased their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a report on Thursday, April 11th.

Parker-Hannifin Trading Down 0.6 %

PH opened at $534.65 on Friday. Parker-Hannifin has a 1-year low of $309.89 and a 1-year high of $570.15. The stock has a market capitalization of $68.65 billion, a PE ratio of 26.47, a PEG ratio of 1.98 and a beta of 1.52. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average price of $540.36 and a two-hundred day moving average price of $472.15.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the business posted $4.76 earnings per share. Parker-Hannifin’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that Parker-Hannifin will post 24.3 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.31%.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock valued at $6,099,566 in the last ninety days. 1.03% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Parker-Hannifin

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Investment Advisory LLC lifted its stake in Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares during the last quarter. GoalVest Advisory LLC raised its holdings in shares of Parker-Hannifin by 40.0% in the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 20 shares during the period. Beaumont Asset Management L.L.C. lifted its stake in Parker-Hannifin by 0.8% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after purchasing an additional 24 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC grew its holdings in Parker-Hannifin by 0.7% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after purchasing an additional 25 shares during the period. Finally, M&R Capital Management Inc. increased its position in Parker-Hannifin by 25.0% during the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after buying an additional 25 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Company Profile

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.