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

Parker-Hannifin Co. (NYSE:PH) has earned an average rating of “Moderate Buy” from the seventeen analysts that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $719.71.

A number of equities analysts have issued reports on PH shares. Argus set a $680.00 price target on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. KeyCorp lifted their price target on Parker-Hannifin from $690.00 to $735.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Barclays lowered their price objective on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Finally, Evercore ISI lifted their target price on Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a research report on Monday, May 19th.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Parker-Hannifin

Institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after acquiring an additional 101 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Parker-Hannifin in the 4th quarter worth approximately $32,781,000. Kingsview Wealth Management LLC raised its position in Parker-Hannifin by 5.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 1,896 shares of the industrial products company’s stock worth $1,206,000 after purchasing an additional 97 shares during the last quarter. Empowered Funds LLC raised its position in Parker-Hannifin by 15.2% in the 4th quarter. Empowered Funds LLC now owns 2,879 shares of the industrial products company’s stock worth $1,831,000 after purchasing an additional 380 shares during the last quarter. Finally, Savant Capital LLC raised its position in Parker-Hannifin by 8.1% in the 4th quarter. Savant Capital LLC now owns 3,710 shares of the industrial products company’s stock worth $2,359,000 after purchasing an additional 277 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $671.65 on Thursday. The stock’s fifty day moving average is $623.09 and its two-hundred day moving average is $645.18. The company has a market capitalization of $85.82 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin has a 52 week low of $488.45 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping analysts’ consensus estimates of $6.72 by $0.22. The firm had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $6.51 EPS. As a group, analysts expect that Parker-Hannifin will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.07%. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin’s payout ratio is 27.72%.

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.