Parker-Hannifin Co. (NYSE:PH) Receives $709.65 Average Target Price from Analysts

Shares of Parker-Hannifin Co. (NYSE:PH) have been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $712.82.

PH has been the subject of a number of recent research reports. Jefferies Financial Group increased their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Mizuho increased their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. UBS Group began coverage on Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective for the company. Barclays upped their target price on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Argus lifted their price target 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.

Parker-Hannifin Trading Up 1.2 %

Shares of Parker-Hannifin stock opened at $647.20 on Thursday. Parker-Hannifin has a 52-week low of $440.00 and a 52-week high of $712.42. The firm has a market capitalization of $83.31 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 2.71 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company’s fifty day moving average price is $670.84 and its two-hundred day moving average price is $600.85.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.96 earnings per share. On average, analysts expect that Parker-Hannifin will post 26.75 EPS 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 issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s dividend payout ratio is 29.45%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at approximately $23,682,516.83. This represents a 12.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. West Branch Capital LLC bought a new stake in Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank grew its position in shares of Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after buying an additional 31 shares during the period. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter valued at about $25,000. Prestige Wealth Management Group LLC raised 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 valued at $35,000 after acquiring an additional 25 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in Parker-Hannifin during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

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.