Research Analysts’ Recent Ratings Updates for Parker-Hannifin (PH)

Several brokerages have updated their recommendations and price targets on shares of Parker-Hannifin (NYSE: PH) in the last few weeks:

• 12/19/2024 – Parker-Hannifin had its price target raised by analysts at Truist Financial Co. from $788.00 to $842.00. They now have a “buy” rating on the stock.
• 12/12/2024 – Parker-Hannifin was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating. They now have a $786.00 price target on the stock.
• 12/6/2024 – Parker-Hannifin had its price target raised by analysts at Jefferies Financial Group Inc. from $765.00 to $810.00. They now have a “buy” rating on the stock.
• 12/5/2024 – Parker-Hannifin had its price target raised by analysts at Barclays PLC from $703.00 to $800.00. They now have an “overweight” rating on the stock.
• 11/21/2024 – Parker-Hannifin had its price target raised by analysts at KeyCorp from $725.00 to $775.00. They now have an “overweight” rating on the stock.
• 11/18/2024 – Parker-Hannifin was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $691.00 price target on the stock.
• 11/13/2024 – Parker-Hannifin is now covered by analysts at UBS Group AG. They set a “buy” rating and a $842.00 price target on the stock.
• 11/12/2024 – Parker-Hannifin had its price target raised by analysts at TD Cowen from $520.00 to $575.00. They now have a “hold” rating on the stock.
• 11/5/2024 – Parker-Hannifin had its price target raised by analysts at Argus from $650.00 to $710.00. They now have a “buy” rating on the stock.
• 11/1/2024 – Parker-Hannifin had its price target raised by analysts at Robert W. Baird from $695.00 to $710.00. They now have an “outperform” rating on the stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $652.57 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The company has a market capitalization of $84.00 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 2.71 and a beta of 1.44. Parker-Hannifin Co. has a one year low of $440.00 and a one year high of $712.42. The company’s 50-day moving average is $670.88 and its 200 day moving average is $602.31.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the company posted $5.96 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. Sell-side analysts expect that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.00%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Buying and Selling

In related news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Addison Advisors LLC purchased a new position in shares of Parker-Hannifin during the 2nd quarter worth $25,000. West Branch Capital LLC bought a new position in Parker-Hannifin in the 3rd quarter worth $25,000. Bangor Savings Bank lifted its position in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC grew its holdings in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin in the third quarter worth about $39,000. Institutional investors own 82.44% of the company’s stock.

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.