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

Shares of Parker-Hannifin Co. (NYSE:PH) have earned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $660.57.

PH has been the topic of several recent research reports. Mizuho lifted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Barclays upped their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Robert W. Baird increased their price objective on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th.

Parker-Hannifin Stock Up 0.2 %

PH stock opened at $625.11 on Wednesday. The firm has a 50-day moving average price of $612.93 and a 200-day moving average price of $563.35. The stock has a market capitalization of $80.43 billion, a P/E ratio of 28.69, a price-to-earnings-growth ratio of 2.52 and a beta of 1.43. Parker-Hannifin has a 12 month low of $362.49 and a 12 month high of $646.60. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $6.08 EPS. As a group, equities research analysts anticipate that Parker-Hannifin will post 26.68 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 1.04%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.92%.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 0.00 % 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. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 850 shares of the stock in a transaction 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 transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently bought and sold shares of PH. TD Asset Management Inc raised its position in shares of Parker-Hannifin by 152.1% in the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after buying an additional 79,774 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Parker-Hannifin by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after acquiring an additional 1,802 shares during the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Parker-Hannifin by 261.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock valued at $1,397,000 after acquiring an additional 1,819 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Parker-Hannifin by 54.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock valued at $9,540,000 after acquiring an additional 6,029 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Parker-Hannifin by 16.5% during the first quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company’s stock worth $23,634,000 after purchasing an additional 6,013 shares in the last quarter. 82.44% of the stock is currently 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.