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

Parker-Hannifin Co. (NYSE:PH) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $736.65.

PH has been the subject of a number of recent analyst reports. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Jefferies Financial Group upped their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday, January 31st. Finally, Truist Financial boosted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th.

Parker-Hannifin Trading Down 7.1 %

Parker-Hannifin stock opened at $517.00 on Friday. The stock has a 50-day moving average price of $649.18 and a 200 day moving average price of $653.93. Parker-Hannifin has a 52 week low of $492.71 and a 52 week high of $718.44. The stock has a market cap of $66.55 billion, a PE ratio of 21.40, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities research analysts predict that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Hedge Funds Weigh In On Parker-Hannifin

Institutional investors have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $32,000. Finally, Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares in the last quarter. Institutional investors and hedge funds 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.