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

Parker-Hannifin Co. (NYSE:PH) has earned an average rating of “Moderate Buy” from the sixteen analysts that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $691.40.

A number of analysts recently issued reports on PH shares. Wells Fargo & Company upped their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Argus increased their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. KeyCorp lifted their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI increased their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Raymond James lifted their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th.

Insider Buying and Selling

In other news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,927 shares of company stock valued at $12,807,811 over the last quarter. Company insiders own 0.39% of the company’s stock.

Institutional Trading of Parker-Hannifin

Several large investors have recently bought and sold shares of the company. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $25,000. Bangor Savings Bank lifted its holdings in shares of Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin in the second quarter valued at approximately $25,000. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of 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 Stock Up 0.6 %

PH stock opened at $706.87 on Friday. The stock has a market cap of $90.99 billion, a P/E ratio of 31.93, a PEG ratio of 2.84 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin has a twelve month low of $426.49 and a twelve month high of $711.60. The company’s 50 day moving average is $647.32 and its two-hundred day moving average is $580.54.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the business earned $5.96 EPS. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts expect that Parker-Hannifin will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

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.