Parker-Hannifin Co. (NYSE:PH) Receives $739.06 Consensus Target Price from Analysts

Shares of Parker-Hannifin Co. (NYSE:PH) have been given an average rating of “Moderate Buy” by the seventeen research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $739.06.

PH has been the topic of several recent analyst reports. UBS Group reduced their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. KeyCorp increased their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group increased their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research note on Thursday, December 12th. Finally, Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PH. Norges Bank bought a new position in Parker-Hannifin during the 4th quarter worth about $1,106,132,000. Proficio Capital Partners LLC boosted its holdings in shares of Parker-Hannifin by 116,370.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after buying an additional 1,139,265 shares in the last quarter. Royal Bank of Canada boosted its holdings in shares of Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock valued at $1,448,241,000 after buying an additional 1,137,564 shares in the last quarter. State Street Corp boosted its holdings in shares of Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after buying an additional 753,143 shares in the last quarter. Finally, Capital World Investors bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $418,174,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $631.09 on Tuesday. The company has a market cap of $81.23 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 2.85 and a beta of 1.45. The firm’s fifty day moving average is $665.04 and its 200 day moving average is $650.13. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin has a 52-week low of $492.71 and a 52-week high of $718.44.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Sell-side analysts forecast that Parker-Hannifin will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

About Parker-Hannifin

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.