Analysts Set Parker-Hannifin Co. (NYSE:PH) Price Target at $566.33

Shares of Parker-Hannifin Co. (NYSE:PH) have earned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $569.06.

A number of research analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price objective for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. Barclays reduced their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Argus lifted their price target on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, KeyCorp lifted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the sale, the vice president now owns 1,137 shares in the company, valued at approximately $609,989.13. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the sale, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently modified their holdings of the company. Sachetta LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $26,000. First United Bank & Trust purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $29,000. Harbor Investment Advisory LLC increased its holdings in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $30,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $505.81 on Thursday. The stock has a market capitalization of $65.02 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.02 and a beta of 1.46. Parker-Hannifin has a 12 month low of $362.49 and a 12 month high of $570.15. The firm’s 50 day simple moving average is $531.05 and its 200-day simple moving average is $515.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter last year, the company earned $5.93 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts expect that Parker-Hannifin will post 24.85 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were paid a $1.63 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.29%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is currently 30.73%.

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.