Parker-Hannifin Co. (NYSE:PH) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Parker-Hannifin Co. (NYSE:PH) have earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $636.64.

PH has been the subject of a number of recent analyst reports. Barclays raised their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday. Raymond James lifted their price target on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Evercore ISI increased their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Stifel Nicolaus upped their target price on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday.

Insider Activity

In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction 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 sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Berend Bracht sold 850 shares of the firm’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 value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Apella Capital LLC purchased a new position in shares of Parker-Hannifin in the third quarter worth about $247,000. Sterneck Capital Management LLC purchased a new position in Parker-Hannifin in the 3rd quarter worth approximately $236,000. Czech National Bank boosted its holdings in shares of Parker-Hannifin by 6.9% during the 3rd quarter. Czech National Bank now owns 26,185 shares of the industrial products company’s stock worth $16,544,000 after purchasing an additional 1,691 shares during the last quarter. M&R Capital Management Inc. grew its position in shares of Parker-Hannifin by 5.3% in the third quarter. M&R Capital Management Inc. now owns 477 shares of the industrial products company’s stock valued at $302,000 after purchasing an additional 24 shares in the last quarter. Finally, Doliver Advisors LP acquired a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $330,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $630.68 on Friday. Parker-Hannifin has a one year low of $362.49 and a one year high of $639.87. The company has a market capitalization of $81.07 billion, a PE ratio of 29.72, a P/E/G ratio of 2.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The company has a 50-day simple moving average of $586.92 and a two-hundred day simple moving average of $554.05.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.08 EPS. Research analysts expect that Parker-Hannifin will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

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.