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

Parker-Hannifin Co. (NYSE:PH) has been given an average recommendation of “Moderate Buy” by the sixteen analysts that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $539.56.

Several research firms have commented on PH. Evercore ISI upped their price objective on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. Mizuho lifted their price target on Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a report on Friday, May 3rd. 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. Finally, Stifel Nicolaus lifted their target price on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd.

Parker-Hannifin Stock Down 0.1 %

Parker-Hannifin stock opened at $550.14 on Wednesday. Parker-Hannifin has a fifty-two week low of $319.14 and a fifty-two week high of $570.15. The firm has a market capitalization of $70.64 billion, a PE ratio of 25.93, a P/E/G ratio of 1.94 and a beta of 1.51. The company’s 50-day moving average is $545.73 and its 200-day moving average is $486.41. 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 data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.10 by $0.41. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.93 earnings per share. Sell-side analysts anticipate that Parker-Hannifin will post 24.62 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be given a dividend of $1.63 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 27.90%.

Insider Buying and Selling 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 completion of the sale, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 4,200 shares in the company, 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.

Institutional Trading of Parker-Hannifin

Hedge funds have recently made changes to their positions in the company. Fidelis Capital Partners LLC raised its position in Parker-Hannifin by 2.3% during the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 19 shares during the last quarter. Harbor Investment Advisory LLC raised its position in shares of Parker-Hannifin by 60.6% during the first 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 during the last quarter. GoalVest Advisory LLC lifted its stake in shares of Parker-Hannifin by 40.0% in the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 20 shares during the period. Essex Financial Services Inc. boosted its holdings in Parker-Hannifin by 4.3% in the first quarter. Essex Financial Services Inc. now owns 539 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 22 shares during the last quarter. Finally, Beaumont Asset Management L.L.C. increased its position in Parker-Hannifin by 0.8% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after purchasing an additional 24 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

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.