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

Parker-Hannifin Corporation (NYSE:PH) has earned a consensus rating of “Moderate Buy” from the twenty-one brokerages that are currently covering the firm, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $998.35.

Several research firms have weighed in on PH. Robert W. Baird set a $1,050.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. JPMorgan Chase & Co. lifted their price target on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and issued a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $983.95 on Wednesday. Parker-Hannifin has a twelve month low of $538.08 and a twelve month high of $1,034.96. The firm has a fifty day simple moving average of $953.02 and a 200 day simple moving average of $881.48. The company has a market capitalization of $124.19 billion, a PE ratio of 35.88, a P/E/G ratio of 3.17 and a beta of 1.25. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same quarter in the prior year, the firm earned $6.53 earnings per share. Parker-Hannifin’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that Parker-Hannifin will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were paid a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 6th. Parker-Hannifin’s payout ratio is 26.26%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the sale, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the sale, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 10,063 shares of company stock valued at $9,891,214. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. HFM Investment Advisors LLC grew its holdings in shares of Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after buying an additional 30 shares during the last quarter. Texas Capital Bancshares Inc TX acquired a new position in shares of Parker-Hannifin during the third quarter valued at about $25,000. Lloyd Advisory Services LLC. acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC grew its holdings in shares of Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after buying an additional 16 shares during the last quarter. Finally, First Command Advisory Services Inc. grew its holdings in shares of Parker-Hannifin by 1,133.3% during the fourth quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock valued at $33,000 after buying an additional 34 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

About Parker-Hannifin

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.