Weekly Investment Analysts’ Ratings Changes for Parker-Hannifin (PH)

Posted by Defense World Staff on Oct 3rd, 2024

Parker-Hannifin (NYSE: PH) recently received a number of ratings updates from brokerages and research firms:

10/2/2024 – Parker-Hannifin had its price target raised by analysts at Barclays PLC from $650.00 to $703.00. They now have an “overweight” rating on the stock.
10/2/2024 – Parker-Hannifin was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
10/2/2024 – Parker-Hannifin had its price target raised by analysts at Stifel Nicolaus from $633.00 to $691.00. They now have a “buy” rating on the stock.
9/24/2024 – Parker-Hannifin was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
9/11/2024 – Parker-Hannifin had its price target raised by analysts at TD Cowen from $500.00 to $520.00. They now have a “hold” rating on the stock.
9/4/2024 – Parker-Hannifin had its price target raised by analysts at Raymond James from $610.00 to $650.00. They now have an “outperform” rating on the stock.
8/19/2024 – Parker-Hannifin had its price target raised by analysts at Evercore ISI from $620.00 to $656.00. They now have an “outperform” rating on the stock.
8/9/2024 – Parker-Hannifin had its price target raised by analysts at Wells Fargo & Company from $600.00 to $640.00. They now have an “overweight” rating on the stock.
8/9/2024 – Parker-Hannifin had its price target raised by analysts at Robert W. Baird from $622.00 to $654.00. They now have an “outperform” rating on the stock.
8/9/2024 – Parker-Hannifin had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $595.00 to $645.00. They now have a “buy” rating on the stock.
8/9/2024 – Parker-Hannifin had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $673.00 price target on the stock, up previously from $621.00.

Parker-Hannifin Stock Down 0.9 %

Parker-Hannifin stock traded down $5.50 during trading hours on Thursday, hitting $622.00. The stock had a trading volume of 163,639 shares, compared to its average volume of 648,200. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The stock’s 50-day moving average price is $583.78 and its 200-day moving average price is $552.89. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $639.87. The stock has a market capitalization of $80.03 billion, a P/E ratio of 29.31, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43.

Parker-Hannifin (NYSE:PH – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the previous year, the company earned $6.08 earnings per share. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Insider Activity

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

Hedge Funds Weigh In On Parker-Hannifin

A number of hedge funds and other institutional investors have recently modified their holdings of PH. Jones Financial Companies Lllp increased its stake in Parker-Hannifin by 9.2% in the 4th quarter. Jones Financial Companies Lllp now owns 723 shares of the industrial products company’s stock worth $333,000 after buying an additional 61 shares during the period. Rafferty Asset Management LLC raised its position in Parker-Hannifin by 5.6% during the 4th quarter. Rafferty Asset Management LLC now owns 10,774 shares of the industrial products company’s stock worth $4,964,000 after buying an additional 572 shares during the last quarter. Lake Street Advisors Group LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $604,000. Tower Research Capital LLC TRC increased its holdings in shares of Parker-Hannifin by 136.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 17,291 shares of the industrial products company’s stock valued at $7,966,000 after purchasing an additional 9,973 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Parker-Hannifin by 12.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,265 shares of the industrial products company’s stock valued at $3,808,000 after acquiring an additional 938 shares during the period. Institutional investors own 82.44% of the company’s stock.

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.