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

Parker-Hannifin Co. (NYSE:PH) has earned a consensus recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $566.33.

PH has been the subject of a number of research reports. KeyCorp increased their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Barclays lowered their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Truist Financial reaffirmed a “buy” rating and issued a $611.00 price objective on shares of Parker-Hannifin in a research note on Wednesday, May 15th. Stifel Nicolaus upped their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Argus upped their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Monday, May 6th.

Insider Buying and Selling

In related news, VP Jay Reidy sold 572 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Jay Reidy sold 572 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Parker-Hannifin

Large investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC increased its position in shares of Parker-Hannifin by 51.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 7,085 shares of the industrial products company’s stock valued at $2,760,000 after purchasing an additional 2,393 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Parker-Hannifin by 114.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,318 shares of the industrial products company’s stock worth $2,851,000 after acquiring an additional 3,904 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Parker-Hannifin in the 3rd quarter worth about $286,000. Teza Capital Management LLC purchased a new stake in Parker-Hannifin in the 3rd quarter worth about $1,045,000. Finally, Gotham Asset Management LLC increased its holdings in Parker-Hannifin by 104.5% in the 3rd quarter. Gotham Asset Management LLC now owns 26,108 shares of the industrial products company’s stock worth $10,170,000 after acquiring an additional 13,343 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Down 0.5 %

PH opened at $502.73 on Thursday. Parker-Hannifin has a twelve month low of $362.49 and a twelve month high of $570.15. The company has a 50-day simple moving average of $533.05 and a 200 day simple moving average of $514.85. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $64.62 billion, a price-to-earnings ratio of 23.69, a P/E/G ratio of 2.02 and a beta of 1.46.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.93 earnings per share. Analysts predict that Parker-Hannifin will post 24.84 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were issued a $1.63 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Thursday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 30.73%.

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.