Parker-Hannifin Co. (NYSE:PH) Receives $623.00 Average PT from Analysts

Shares of Parker-Hannifin Co. (NYSE:PH) have been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $624.43.

PH has been the topic of a number of recent research reports. Robert W. Baird lifted their price objective on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Mizuho upgraded 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 research report on Tuesday, May 28th. Raymond James increased their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Wells Fargo & Company boosted their target price on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Evercore ISI upped their price target on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th.

Parker-Hannifin Trading Up 0.5 %

NYSE:PH opened at $587.55 on Tuesday. The company has a market capitalization of $75.52 billion, a PE ratio of 27.69, a P/E/G ratio of 2.32 and a beta of 1.43. Parker-Hannifin has a 52-week low of $362.49 and a 52-week high of $601.30. The stock’s 50 day moving average price is $560.42 and its 200 day moving average price is $544.51. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period last year, the firm posted $6.08 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Parker-Hannifin will post 26.65 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 28th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Insiders Place Their Bets

In related news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Parker-Hannifin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sachetta LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at about $25,000. Addison Advisors LLC acquired a new position in shares of Parker-Hannifin in the second quarter valued at approximately $25,000. First United Bank & Trust purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $29,000. Harbor Investment Advisory LLC boosted its position in Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

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.