Parker-Hannifin (NYSE:PH) Sets New 52-Week High at $627.59

Parker-Hannifin Co. (NYSE:PH) reached a new 52-week high during trading on Tuesday . The company traded as high as $627.59 and last traded at $622.41, with a volume of 70849 shares trading hands. The stock had previously closed at $618.72.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PH. Stifel Nicolaus cut their target price on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Evercore ISI lifted their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Wells Fargo & Company raised their price objective on Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and issued a $673.00 price objective (up previously from $621.00) on shares of Parker-Hannifin in a report on Friday, August 9th. Finally, Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their target price for the stock from $550.00 to $650.00 in a report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $624.43.

Parker-Hannifin Stock Up 0.8 %

The firm’s fifty day moving average is $572.71 and its two-hundred day moving average is $548.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The firm has a market cap of $80.20 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 2.42 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the previous year, the business earned $6.08 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Parker-Hannifin

A number of institutional investors have recently modified their holdings of the stock. Fidelis Capital Partners LLC grew its position in Parker-Hannifin by 2.3% in the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after acquiring an additional 19 shares in the last quarter. Harbor Investment Advisory LLC raised its holdings in Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after buying an additional 20 shares in the last quarter. GoalVest Advisory LLC lifted its position in shares of Parker-Hannifin by 40.0% in the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after buying an additional 20 shares during the last quarter. American Trust boosted its stake in shares of Parker-Hannifin by 3.2% during the 1st quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 20 shares in the last quarter. Finally, TFG Advisers LLC increased its holdings in shares of Parker-Hannifin by 0.9% during the 2nd quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock valued at $1,098,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

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.