Parker-Hannifin Co. (NYSE:PH) Receives $660.57 Average PT from Analysts

Shares of Parker-Hannifin Co. (NYSE:PH) have been given an average rating of “Moderate Buy” by the fifteen research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $664.57.

Several equities research analysts recently weighed in on PH shares. Truist Financial upped their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Barclays increased their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. TD Cowen boosted their target price on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Raymond James upped their price target on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company lifted their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, VP Berend Bracht sold 850 shares of the stock in a transaction dated Monday, August 26th. The shares were 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 $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Institutional investors and hedge funds have recently made changes to their positions in the business. Miracle Mile Advisors LLC lifted its stake in Parker-Hannifin by 7.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 709 shares of the industrial products company’s stock valued at $394,000 after buying an additional 52 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Parker-Hannifin by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 13,925 shares of the industrial products company’s stock valued at $7,739,000 after acquiring an additional 50 shares during the last quarter. Norden Group LLC purchased a new stake in Parker-Hannifin during the 1st quarter worth about $3,849,000. Kovack Advisors Inc. acquired a new position in Parker-Hannifin in the 1st quarter valued at about $258,000. Finally, First Trust Direct Indexing L.P. lifted its holdings in Parker-Hannifin by 12.6% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,519 shares of the industrial products company’s stock valued at $2,512,000 after purchasing an additional 504 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $635.03 on Wednesday. The firm has a market cap of $81.71 billion, a PE ratio of 29.14, a price-to-earnings-growth ratio of 2.53 and a beta of 1.43. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. Parker-Hannifin has a 52 week low of $395.00 and a 52 week high of $646.60. The business’s fifty day simple moving average is $615.46 and its 200-day simple moving average is $564.90.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.96 EPS. Equities analysts forecast that Parker-Hannifin will post 26.68 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.92%.

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.