Parker-Hannifin Corporation (NYSE:PH) Receives Average Rating of “Moderate Buy” from Analysts

Parker-Hannifin Corporation (NYSE:PH) has earned an average rating of “Moderate Buy” from the twenty-one brokerages that are presently covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $995.3684.

A number of research firms have weighed in on PH. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. iA Financial set a $1,032.00 target price on Parker-Hannifin in a report on Thursday, January 29th. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. KeyCorp reaffirmed an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, Citigroup lifted their price objective 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.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $890.28 on Friday. Parker-Hannifin has a one year low of $488.45 and a one year high of $1,034.96. The stock has a market capitalization of $112.37 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 2.91 and a beta of 1.23. The company has a 50-day simple moving average of $959.64 and a 200-day simple moving average of $858.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

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

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were issued a $1.80 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is presently 26.26%.

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,664 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 10,063 shares of company stock valued at $9,891,214. Insiders own 0.32% of the company’s stock.

Institutional Trading of Parker-Hannifin

Several hedge funds have recently modified their holdings of the business. Texas Capital Bancshares Inc TX acquired a new position in Parker-Hannifin during the third quarter worth $25,000. Chilton Capital Management LLC purchased a new position in Parker-Hannifin in the third quarter worth $29,000. HFM Investment Advisors LLC lifted its holdings in Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 30 shares during the period. Lloyd Advisory Services LLC. purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth $31,000. Finally, Ameriflex Group Inc. boosted its position in shares of Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

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.