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

Parker-Hannifin Co. (NYSE:PH) has earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $566.33.

Several research analysts have issued reports on PH shares. Bank of America lifted their price target on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company lowered their price objective on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research report on Monday, May 6th. Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price target for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. Finally, Truist Financial restated a “buy” rating and set a $611.00 price target on shares of Parker-Hannifin in a report on Wednesday, May 15th.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $502.73 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm’s 50-day moving average price is $533.05 and its two-hundred day moving average price is $514.85. Parker-Hannifin has a 52-week low of $362.49 and a 52-week high of $570.15. The stock has a market capitalization of $64.62 billion, a P/E ratio of 23.69, a P/E/G ratio of 2.02 and a beta of 1.46.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter last year, the company posted $5.93 earnings per share. Parker-Hannifin’s revenue was up .3% on a year-over-year basis. As a group, sell-side analysts forecast that Parker-Hannifin will post 24.84 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is presently 30.73%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jay Reidy sold 572 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PH. Norges Bank bought a new position in shares of Parker-Hannifin during the 4th quarter worth about $665,188,000. Alphinity Investment Management Pty Ltd increased its stake in Parker-Hannifin by 42.2% in the fourth quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock valued at $521,861,000 after acquiring an additional 336,370 shares during the period. Kodai Capital Management LP bought a new stake in Parker-Hannifin in the fourth quarter valued at about $122,449,000. 1832 Asset Management L.P. increased its stake in Parker-Hannifin by 305.0% in the first quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after acquiring an additional 231,788 shares during the period. Finally, International Assets Investment Management LLC increased its stake in Parker-Hannifin by 65,634.7% in the fourth quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock valued at $101,149,000 after acquiring an additional 219,220 shares during the period. Institutional investors own 82.44% of the company’s stock.

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.