Parker-Hannifin (NYSE:PH) Coverage Initiated by Analysts at UBS Group

UBS Group started coverage on shares of Parker-Hannifin (NYSE:PH) in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $842.00 target price on the industrial products company’s stock.

Several other brokerages also recently issued reports on PH. Argus upped their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Evercore ISI lifted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Wells Fargo & Company upped their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Truist Financial lifted their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $688.07.

Parker-Hannifin Stock Up 0.2 %

PH stock opened at $698.91 on Wednesday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin has a 52 week low of $425.20 and a 52 week high of $711.60. The company has a market cap of $89.96 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. The business has a 50-day simple moving average of $636.19 and a 200 day simple moving average of $575.15.

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, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the firm earned $5.96 EPS. Parker-Hannifin’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts anticipate that Parker-Hannifin will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Insider Activity

In related news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock worth $12,807,811 in the last quarter. 0.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its position in Parker-Hannifin by 14.5% in the 1st quarter. Russell Investments Group Ltd. now owns 40,778 shares of the industrial products company’s stock valued at $22,689,000 after buying an additional 5,174 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Parker-Hannifin by 1.5% in the first quarter. Bleakley Financial Group LLC now owns 2,570 shares of the industrial products company’s stock valued at $1,428,000 after purchasing an additional 39 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new position in shares of Parker-Hannifin during the first quarter valued at about $143,000. TD Asset Management Inc boosted its holdings in Parker-Hannifin by 152.1% during the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after purchasing an additional 79,774 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its position in Parker-Hannifin by 3.4% in the 1st quarter. Kingsview Wealth Management LLC now owns 1,755 shares of the industrial products company’s stock worth $976,000 after purchasing an additional 58 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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.