Parker-Hannifin Co. (NYSE:PH) Receives $709.65 Consensus Target Price from Analysts

Parker-Hannifin Co. (NYSE:PH) has been given an average recommendation of “Moderate Buy” by the seventeen ratings firms that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $712.82.

PH has been the subject of several research analyst reports. KeyCorp upped their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Raymond James increased their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Wells Fargo & Company lifted their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. UBS Group began coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective for the company. Finally, Wolfe Research raised 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.

Insiders Place Their Bets

In related news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction dated 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 sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 over the last three months. 0.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Parker-Hannifin

Institutional investors have recently made changes to their positions in the business. State Street Corp raised its stake in Parker-Hannifin by 13.8% during 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 purchasing an additional 753,143 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after buying an additional 564,365 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after buying an additional 381,285 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Parker-Hannifin in the third quarter valued at about $226,570,000. Finally, Mizuho Securities USA LLC grew its position in Parker-Hannifin by 3,566.4% during the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after buying an additional 353,393 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $647.20 on Thursday. The stock’s fifty day simple moving average is $670.84 and its 200 day simple moving average is $600.85. The stock has a market capitalization of $83.31 billion, a price-to-earnings ratio of 29.23, a PEG ratio of 2.71 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin has a 52-week low of $440.00 and a 52-week 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 for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the business posted $5.96 EPS. Parker-Hannifin’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Parker-Hannifin will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s 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.