Parker-Hannifin Co. (NYSE:PH) Receives $691.40 Consensus Target Price from Brokerages

Shares of Parker-Hannifin Co. (NYSE:PH) have received an average recommendation of “Moderate Buy” from the sixteen research firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $691.40.

Several research analysts have recently issued reports on PH shares. Barclays upped their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Stifel Nicolaus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target for the company. in a report on Monday, November 18th. Raymond James increased their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Finally, TD Cowen increased their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th.

Insider Transactions at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the transaction, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Addison Advisors LLC purchased a new stake in Parker-Hannifin during the second quarter valued at approximately $25,000. West Branch Capital LLC purchased a new stake in Parker-Hannifin during the third quarter valued at approximately $25,000. Bangor Savings Bank increased its holdings in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Fortitude Family Office LLC increased its holdings in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after buying an additional 52 shares during the last quarter. Finally, Prestige Wealth Management Group LLC increased its holdings in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after buying an additional 25 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 0.4 %

Shares of PH stock opened at $706.92 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock has a market cap of $90.99 billion, a P/E ratio of 31.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43. The stock has a 50 day simple moving average of $651.50 and a 200 day simple moving average of $582.76. Parker-Hannifin has a 1 year low of $426.49 and a 1 year high of $712.42.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the company posted $5.96 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts predict that Parker-Hannifin will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

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.