Parker-Hannifin Corporation (NYSE:PH) Given Consensus Rating of “Moderate Buy” by Analysts

Parker-Hannifin Corporation (NYSE:PH) has received a consensus rating of “Moderate Buy” from the nineteen analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $1,114.55.

Several brokerages have recently weighed in on PH. Citigroup lifted their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Wall Street Zen lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Sanford C. Bernstein raised their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, BNP Paribas Exane reissued an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th.

Insiders Place Their Bets

In related news, VP Berend Bracht sold 602 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the transaction, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Parker-Hannifin

A number of institutional investors have recently added to or reduced their stakes in the stock. Tortoise Investment Management LLC lifted its position in shares of Parker-Hannifin by 6.4% during the 2nd quarter. Tortoise Investment Management LLC now owns 629 shares of the industrial products company’s stock worth $615,000 after buying an additional 38 shares during the period. Sequoia Financial Advisors LLC grew its position in Parker-Hannifin by 10.0% in the second quarter. Sequoia Financial Advisors LLC now owns 60,061 shares of the industrial products company’s stock valued at $58,747,000 after acquiring an additional 5,473 shares during the period. Archford Capital Strategies LLC grew its position in Parker-Hannifin by 77.5% in the second quarter. Archford Capital Strategies LLC now owns 2,072 shares of the industrial products company’s stock valued at $2,027,000 after acquiring an additional 905 shares during the period. National Pension Service raised its stake in Parker-Hannifin by 3.0% during the second quarter. National Pension Service now owns 367,138 shares of the industrial products company’s stock worth $359,105,000 after acquiring an additional 10,590 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Parker-Hannifin by 7.7% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 780 shares of the industrial products company’s stock valued at $763,000 after acquiring an additional 56 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

NYSE PH opened at $951.48 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The firm has a market capitalization of $119.93 billion, a price-to-earnings ratio of 33.40, a P/E/G ratio of 2.60 and a beta of 1.13. The company’s fifty day moving average is $990.48 and its two-hundred day moving average is $948.09. Parker-Hannifin has a 52-week low of $715.37 and a 52-week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business earned $7.69 earnings per share. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts forecast that Parker-Hannifin will post 35 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be paid a $2.00 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s payout ratio is presently 28.08%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE:PH) is a diversified manufacturer of motion and control technologies. The company develops and produces systems and components that manage the movement and flow of liquids, gases and other materials for industrial, mobile and aerospace applications.

Its products include hydraulic and pneumatic systems, fluid connectors, filtration and process-control equipment, electromechanical technologies, seals, thermal-management solutions and aerospace systems. Parker-Hannifin serves manufacturers and operators in markets such as factory automation, transportation, energy, construction, life sciences and aviation.

Founded in 1917, Parker-Hannifin is headquartered in Cleveland, Ohio, and serves customers through manufacturing, distribution and sales operations across North America, Europe, Asia and other international markets.