Parker-Hannifin Co. (NYSE:PH) Receives $660.57 Average Target Price from Brokerages

Parker-Hannifin Co. (NYSE:PH) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $664.57.

Several research analysts recently weighed in on the company. Raymond James increased their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. KeyCorp lifted their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Mizuho increased their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Truist Financial lifted their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th.

Parker-Hannifin Stock Up 0.2 %

PH opened at $635.03 on Wednesday. Parker-Hannifin has a 12 month low of $395.00 and a 12 month high of $646.60. The business has a 50-day moving average of $615.46 and a two-hundred day moving average of $564.90. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The stock has a market capitalization of $81.71 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 2.53 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.96 earnings per share. On average, research analysts expect that Parker-Hannifin will post 26.68 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. Parker-Hannifin’s payout ratio is currently 29.92%.

Insider Activity

In other news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

Large investors have recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC raised its holdings in shares of Parker-Hannifin by 7.9% during the first quarter. Miracle Mile Advisors LLC now owns 709 shares of the industrial products company’s stock worth $394,000 after purchasing an additional 52 shares during the period. State of Alaska Department of Revenue raised its stake in Parker-Hannifin by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 13,925 shares of the industrial products company’s stock worth $7,739,000 after acquiring an additional 50 shares during the period. Norden Group LLC bought a new position in Parker-Hannifin in the first quarter worth about $3,849,000. Kovack Advisors Inc. acquired a new position in Parker-Hannifin in the first quarter valued at approximately $258,000. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of Parker-Hannifin by 12.6% during the first quarter. First Trust Direct Indexing L.P. now owns 4,519 shares of the industrial products company’s stock valued at $2,512,000 after purchasing an additional 504 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

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.