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

Parker-Hannifin Co. (NYSE:PH) has been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $739.06.

A number of analysts have commented on PH shares. Citigroup started coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Barclays decreased their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $648.96 on Tuesday. The company has a market capitalization of $83.53 billion, a PE ratio of 26.86, a P/E/G ratio of 2.85 and a beta of 1.45. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin has a twelve month low of $492.71 and a twelve month high of $718.44. The firm has a fifty day simple moving average of $666.26 and a 200 day simple moving average of $650.05.

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

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.00%. Parker-Hannifin’s payout ratio is currently 26.99%.

Institutional Investors Weigh In On Parker-Hannifin

Several large investors have recently modified their holdings of the stock. Stephens Inc. AR grew its holdings in Parker-Hannifin by 7.1% during the third quarter. Stephens Inc. AR now owns 3,472 shares of the industrial products company’s stock valued at $2,194,000 after purchasing an additional 230 shares during the period. Focus Financial Network Inc. grew its stake in shares of Parker-Hannifin by 8.9% during the 3rd quarter. Focus Financial Network Inc. now owns 651 shares of the industrial products company’s stock worth $411,000 after acquiring an additional 53 shares during the period. Farther Finance Advisors LLC increased its holdings in Parker-Hannifin by 13.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,212 shares of the industrial products company’s stock worth $766,000 after acquiring an additional 144 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in Parker-Hannifin by 23.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 593 shares of the industrial products company’s stock valued at $374,000 after acquiring an additional 112 shares during the period. Finally, Clear Creek Financial Management LLC lifted its holdings in Parker-Hannifin by 17.1% during the third quarter. Clear Creek Financial Management LLC now owns 857 shares of the industrial products company’s stock valued at $542,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

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.