Parker-Hannifin Co. (NYSE:PH) Receives Average Recommendation of “Moderate Buy” from Analysts

Parker-Hannifin Co. (NYSE:PH) has been given an average rating of “Moderate Buy” by the seventeen brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $712.82.

PH has been the subject of several research analyst reports. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target for the company in a research report on Thursday, December 12th. Truist Financial increased their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, KeyCorp boosted their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, November 21st.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the business’s 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 completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction on 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 $3,831,839.40. This represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock worth $12,303,829 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lord Abbett & CO. LLC increased its holdings in shares of Parker-Hannifin by 4.6% in the 3rd quarter. Lord Abbett & CO. LLC now owns 565,082 shares of the industrial products company’s stock valued at $357,030,000 after acquiring an additional 25,081 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in Parker-Hannifin by 3.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 2,540 shares of the industrial products company’s stock valued at $1,598,000 after purchasing an additional 90 shares during the period. 1ST Source Bank increased its stake in Parker-Hannifin by 6.2% in the third quarter. 1ST Source Bank now owns 631 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 37 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in shares of Parker-Hannifin during the third quarter worth about $2,521,000. Finally, Franklin Resources Inc. boosted its stake in shares of Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock worth $415,409,000 after buying an additional 181,859 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 1.1 %

PH stock opened at $652.57 on Thursday. The firm has a market cap of $84.00 billion, a PE ratio of 29.47, a PEG ratio of 2.71 and a beta of 1.44. Parker-Hannifin has a one year low of $440.00 and a one year high of $712.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The firm’s 50 day moving average price is $671.47 and its 200-day moving average price is $603.62.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.96 EPS. On average, equities research analysts anticipate that Parker-Hannifin will post 26.75 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.00%. Parker-Hannifin’s payout ratio is currently 29.45%.

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.