Parker-Hannifin (NYSE:PH) Reaches New 52-Week High – Here’s What Happened

Parker-Hannifin Corporation (NYSE:PH)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $1,026.29 and last traded at $1,019.4720, with a volume of 112662 shares changing hands. The stock had previously closed at $1,008.97.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PH. BNP Paribas Exane initiated coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target for the company. Morgan Stanley set a $1,038.00 target price on Parker-Hannifin and gave the stock an “equal weight” rating in a research report on Tuesday. Argus reaffirmed a “buy” rating and set a $900.00 price objective on shares of Parker-Hannifin in a report on Monday, November 10th. Citigroup lifted their target price on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Sixteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $995.37.

Parker-Hannifin Stock Performance

The firm has a market cap of $128.92 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 3.29 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $935.69 and its 200 day moving average is $837.54.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. During the same period last year, the firm posted $6.53 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s payout ratio is currently 26.26%.

Insider Activity

In other news, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the sale, the vice president directly owned 1,000 shares of the company’s stock, valued at approximately $949,940. This represents a 36.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the transaction, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 12,551 shares of company stock worth $12,117,502. Insiders own 0.32% of the company’s stock.

Institutional Trading of Parker-Hannifin

A number of institutional investors and hedge funds have recently made changes to their positions in the company. HFM Investment Advisors LLC boosted its position in shares of Parker-Hannifin by 1,000.0% during the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after buying an additional 30 shares during the last quarter. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin in the third quarter worth about $25,000. Lloyd Advisory Services LLC. bought a new position in shares of Parker-Hannifin in the fourth quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its stake in Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 16 shares during the period. Finally, First Command Advisory Services Inc. grew its stake in Parker-Hannifin by 1,133.3% during the fourth quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.