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

Shares of Parker-Hannifin Co. (NYSE:PH) have earned an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $709.65.

PH has been the subject of a number of research analyst reports. Raymond James upped their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Argus lifted their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Robert W. Baird lifted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Mizuho upped their target price on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th.

Parker-Hannifin Trading Down 3.3 %

NYSE PH opened at $643.80 on Thursday. Parker-Hannifin has a 52 week low of $440.00 and a 52 week high of $712.42. The firm has a 50 day moving average of $670.48 and a two-hundred day moving average of $599.02. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $82.87 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 2.71 and a beta of 1.43.

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

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.01%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction 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 completion of the sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. 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 ninety days. Corporate insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC boosted its position in Parker-Hannifin by 4.6% during the third quarter. Lord Abbett & CO. LLC now owns 565,082 shares of the industrial products company’s stock worth $357,030,000 after purchasing an additional 25,081 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of Parker-Hannifin by 3.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 2,540 shares of the industrial products company’s stock worth $1,598,000 after buying an additional 90 shares during the last quarter. 1ST Source Bank boosted its position in shares of Parker-Hannifin by 6.2% in the 3rd quarter. 1ST Source Bank now owns 631 shares of the industrial products company’s stock worth $399,000 after buying an additional 37 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Parker-Hannifin in the 3rd quarter valued at about $2,521,000. Finally, Franklin Resources Inc. increased its holdings in Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after acquiring an additional 181,859 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

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.