Parker-Hannifin (PH) – Analysts’ Recent Ratings Updates

A number of firms have modified their ratings and price targets on shares of Parker-Hannifin (NYSE: PH) recently:

• 11/13/2024 – Parker-Hannifin is now covered by analysts at UBS Group AG. They set a “buy” rating and a $842.00 price target on the stock.
• 11/12/2024 – Parker-Hannifin had its price target raised by analysts at TD Cowen from $520.00 to $575.00. They now have a “hold” rating on the stock.
• 11/5/2024 – Parker-Hannifin had its price target raised by analysts at Argus from $650.00 to $710.00. They now have a “buy” rating on the stock.
• 11/1/2024 – Parker-Hannifin had its price target raised by analysts at Robert W. Baird from $695.00 to $710.00. They now have an “outperform” rating on the stock.
• 10/17/2024 – Parker-Hannifin had its price target raised by analysts at Mizuho from $665.00 to $715.00. They now have an “outperform” rating on the stock.
• 10/14/2024 – Parker-Hannifin had its price target raised by analysts at KeyCorp from $640.00 to $725.00. They now have an “overweight” rating on the stock.
• 10/12/2024 – Parker-Hannifin was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 10/9/2024 – Parker-Hannifin had its price target raised by analysts at Truist Financial Co. from $673.00 to $788.00. They now have a “buy” rating on the stock.
• 10/7/2024 – Parker-Hannifin had its price target raised by analysts at Wells Fargo & Company from $640.00 to $710.00. They now have an “overweight” rating on the stock.
• 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.

Parker-Hannifin Stock Up 1.0 %

PH opened at $706.54 on Thursday. The business has a 50-day moving average of $628.60 and a 200-day moving average of $572.14. Parker-Hannifin Co. has a fifty-two week low of $422.36 and a fifty-two week high of $711.60. The company has a market capitalization of $90.95 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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 net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the business earned $5.96 EPS. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts forecast that Parker-Hannifin Co. will post 26.77 EPS 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. Shareholders of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is 29.45%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock worth $12,807,811 over the last ninety days. Company insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PH. Russell Investments Group Ltd. lifted its holdings in Parker-Hannifin by 14.5% during the 1st quarter. Russell Investments Group Ltd. now owns 40,778 shares of the industrial products company’s stock valued at $22,689,000 after purchasing an additional 5,174 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of Parker-Hannifin by 1.5% in the first quarter. Bleakley Financial Group LLC now owns 2,570 shares of the industrial products company’s stock valued at $1,428,000 after acquiring an additional 39 shares during the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Parker-Hannifin in the 1st quarter worth approximately $143,000. TD Asset Management Inc grew its position in Parker-Hannifin by 152.1% during the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after acquiring an additional 79,774 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in Parker-Hannifin by 3.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,755 shares of the industrial products company’s stock valued at $976,000 after purchasing an additional 58 shares in the last quarter. 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.