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

Shares of Parker-Hannifin Co. (NYSE:PH) have been given a consensus recommendation of “Moderate Buy” by the fourteen research firms that are covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $515.38.

Several equities analysts have recently issued reports on PH shares. Barclays boosted their price objective on Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group reissued a “buy” rating and set a $551.00 target price on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Finally, KeyCorp upped their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $534.65 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The firm has a market capitalization of $68.65 billion, a PE ratio of 26.47, a P/E/G ratio of 1.98 and a beta of 1.52. Parker-Hannifin has a 1-year low of $309.89 and a 1-year high of $570.15. The business’s fifty day moving average price is $540.36 and its two-hundred day moving average price is $472.15.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the company earned $4.76 EPS. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. On average, research analysts expect that Parker-Hannifin will post 24.3 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 9th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.31%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at $2,741,899.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the transaction, the executive vice president now owns 7,063 shares in the company, valued at $3,552,265.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock worth $6,099,566 in the last quarter. 1.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Parker-Hannifin

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Parker-Hannifin by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 10,460,916 shares of the industrial products company’s stock worth $4,819,344,000 after acquiring an additional 87,436 shares in the last quarter. FMR LLC lifted its holdings in shares of Parker-Hannifin by 9.6% during the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after buying an additional 324,063 shares during the last quarter. Invesco Ltd. grew its stake in shares of Parker-Hannifin by 1.8% in the 3rd quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock valued at $1,134,069,000 after buying an additional 52,739 shares in the last quarter. Geode Capital Management LLC raised its position in Parker-Hannifin by 2.3% during the first quarter. Geode Capital Management LLC now owns 2,637,380 shares of the industrial products company’s stock valued at $884,432,000 after acquiring an additional 58,506 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Parker-Hannifin by 1.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,990,847 shares of the industrial products company’s stock valued at $564,923,000 after acquiring an additional 24,977 shares during 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.