Parker-Hannifin Co. (NYSE:PH) Receives $725.06 Average PT from Analysts

Parker-Hannifin Co. (NYSE:PH) has received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $729.18.

A number of analysts have recently issued reports on PH shares. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Barclays lowered their target price on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. TD Cowen lifted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, UBS Group reduced their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st.

Institutional Investors Weigh In On Parker-Hannifin

Institutional investors have recently modified their holdings of the business. West Branch Capital LLC acquired a new stake in Parker-Hannifin in the third quarter worth $25,000. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth about $25,000. Millstone Evans Group LLC bought a new stake in Parker-Hannifin in the 4th quarter valued at about $30,000. Finally, Prestige Wealth Management Group LLC boosted its stake in Parker-Hannifin by 83.3% during the 3rd 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. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 2.3 %

Shares of NYSE PH opened at $693.89 on Friday. The stock has a fifty day moving average price of $664.41 and a 200 day moving average price of $637.78. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin has a 12-month low of $492.71 and a 12-month high of $718.44. The company has a market cap of $89.32 billion, a P/E ratio of 28.72, a P/E/G ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Research analysts anticipate that Parker-Hannifin will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

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.