Parker-Hannifin Corporation (NYSE:PH) Receives $990.47 Consensus Price Target from Analysts

Parker-Hannifin Corporation (NYSE:PH) has been given an average recommendation of “Moderate Buy” by the twenty-one research firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $990.4737.

PH has been the topic of a number of recent analyst reports. Citigroup increased their price target on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a report on Friday, January 30th. Wells Fargo & Company boosted their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Argus reissued a “buy” rating and issued a $900.00 target price on shares of Parker-Hannifin in a research report on Monday, November 10th. Morgan Stanley reaffirmed a “positive” rating on shares of Parker-Hannifin in a report on Wednesday, January 14th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th.

Insider Activity

In other news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the transaction, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. The trade was a 36.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 12,551 shares of company stock worth $12,117,502. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Parker-Hannifin

Several institutional investors have recently made changes to their positions in PH. ING Groep NV purchased a new stake in Parker-Hannifin during the 3rd quarter worth approximately $26,398,000. Quadrant Capital Group LLC boosted its position in shares of Parker-Hannifin by 20.1% during the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock worth $2,521,000 after buying an additional 604 shares during the period. Procyon Advisors LLC increased its position in shares of Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after acquiring an additional 5,066,179 shares during the period. Wilkinson Global Asset Management LLC increased its position in shares of Parker-Hannifin by 28.2% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock valued at $36,720,000 after purchasing an additional 10,653 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Parker-Hannifin during the second quarter worth approximately $733,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.5%

NYSE PH opened at $1,012.08 on Tuesday. Parker-Hannifin has a 12 month low of $488.45 and a 12 month high of $1,015.00. The stock has a market cap of $127.74 billion, a P/E ratio of 36.91, a P/E/G ratio of 3.21 and a beta of 1.25. The stock’s fifty day moving average price is $930.45 and its 200-day moving average price is $831.64. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating the consensus estimate of $7.11 by $0.54. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. Parker-Hannifin’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $6.53 EPS. As a group, equities analysts forecast that Parker-Hannifin will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.