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

Parker-Hannifin Co. (NYSE:PH) has been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $736.65.

PH has been the topic of several research reports. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a “hold” rating in a report on Friday, January 31st. KeyCorp boosted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th.

Institutional Trading of Parker-Hannifin

Hedge funds have recently made changes to their positions in the company. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin during the 4th quarter worth approximately $32,000. Finally, Prestige Wealth Management Group LLC lifted its position in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 4.1 %

Parker-Hannifin stock opened at $600.78 on Friday. Parker-Hannifin has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The firm has a market capitalization of $77.33 billion, a PE ratio of 24.87, a P/E/G ratio of 2.85 and a beta of 1.50. The company’s 50-day moving average is $658.39 and its 200-day moving average is $654.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Sell-side analysts anticipate that Parker-Hannifin will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.09%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.