Parker-Hannifin Co. (NYSE:PH) Receives Consensus Rating of “Moderate Buy” from Brokerages

Parker-Hannifin Co. (NYSE:PH) has earned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $722.94.

A number of equities research analysts have issued reports on PH shares. Argus increased their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Barclays increased their price objective on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Robert W. Baird raised their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Cowen raised their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a report on Thursday, December 12th.

Parker-Hannifin Price Performance

NYSE PH opened at $670.75 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin has a 12 month low of $458.09 and a 12 month high of $712.42. The company’s 50 day moving average is $671.45 and its two-hundred day moving average is $617.36. The stock has a market cap of $86.34 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.54 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the firm posted $5.96 EPS. The company’s revenue was up 1.2% on a year-over-year basis. As a group, research analysts anticipate that Parker-Hannifin will post 26.75 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.97%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Insiders Place Their Bets

In other news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on 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 sale, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock valued at $12,303,829 over the last three months. 0.39% of the stock is owned by company insiders.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently made changes to their positions in the business. Veracity Capital LLC raised its holdings in shares of Parker-Hannifin by 15.5% in the fourth quarter. Veracity Capital LLC now owns 1,320 shares of the industrial products company’s stock valued at $840,000 after acquiring an additional 177 shares in the last quarter. Secure Asset Management LLC raised its holdings in shares of Parker-Hannifin by 3.4% in the fourth quarter. Secure Asset Management LLC now owns 692 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 23 shares in the last quarter. Capital Planning Advisors LLC raised its holdings in shares of Parker-Hannifin by 7.9% in the fourth quarter. Capital Planning Advisors LLC now owns 3,893 shares of the industrial products company’s stock valued at $2,476,000 after acquiring an additional 284 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of Parker-Hannifin by 7.5% in the fourth quarter. Mutual Advisors LLC now owns 659 shares of the industrial products company’s stock valued at $434,000 after acquiring an additional 46 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Parker-Hannifin by 6.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 47,164 shares of the industrial products company’s stock valued at $29,998,000 after acquiring an additional 2,803 shares in 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.