Parker-Hannifin Co. (NYSE:PH) Receives $566.33 Consensus PT from Analysts

Shares of Parker-Hannifin Co. (NYSE:PH) have earned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $569.69.

PH has been the topic of several recent analyst reports. Barclays decreased their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Stifel Nicolaus reiterated a “buy” rating and set a $629.00 price objective on shares of Parker-Hannifin in a research report on Tuesday. Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and upped their target price for the stock from $550.00 to $650.00 in a research report on Tuesday, May 28th. Argus lifted their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Wells Fargo & Company decreased their price target on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the transaction, the vice president now owns 4,200 shares in the company, valued at $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Parker-Hannifin 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 value of $306,872.28. Following the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction on 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 $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PH. Harbor Investment Advisory LLC grew its stake in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares in the last quarter. Sachetta LLC bought a new position in Parker-Hannifin in the fourth quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin during the 1st quarter worth $31,000. Wetzel Investment Advisors Inc. bought a new stake in Parker-Hannifin during the 4th quarter valued at $26,000. Finally, First United Bank & Trust purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $512.14 on Thursday. The stock has a market cap of $65.83 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.09 and a beta of 1.44. Parker-Hannifin has a 1 year low of $362.49 and a 1 year high of $570.15. The firm has a fifty day moving average price of $529.47 and a 200-day moving average price of $516.93. 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 issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter in the prior year, the business posted $5.93 EPS. Parker-Hannifin’s revenue for the quarter was up .3% compared to the same quarter last year. Equities analysts anticipate that Parker-Hannifin will post 24.85 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.27%. The ex-dividend date was Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is presently 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.