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

Parker-Hannifin Co. (NYSE:PH) has been given a consensus recommendation of “Moderate Buy” by the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $673.14.

PH has been the topic of several recent research reports. Barclays raised their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Mizuho raised their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Argus raised their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Robert W. Baird upped their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

Parker-Hannifin Trading Up 2.4 %

Shares of NYSE PH opened at $653.57 on Wednesday. Parker-Hannifin has a 1-year low of $399.19 and a 1-year high of $653.97. The company has a 50-day moving average of $617.66 and a two-hundred day moving average of $566.76. The company has a market cap of $84.09 billion, a PE ratio of 29.52, a P/E/G ratio of 2.56 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 (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.96 EPS. As a group, equities analysts expect that Parker-Hannifin will post 26.84 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 1.00%. Parker-Hannifin’s payout ratio is 29.45%.

Insider Transactions at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the transaction, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction 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 directly owns 15,350 shares of the company’s stock, valued at $9,686,464. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 8,478 shares of company stock valued at $5,245,221 over the last 90 days. 0.39% of the stock is owned by company insiders.

Institutional Trading of Parker-Hannifin

A number of institutional investors have recently modified their holdings of PH. Schrum Private Wealth Management LLC bought a new position in shares of Parker-Hannifin during the third quarter worth about $382,000. Kovack Advisors Inc. grew its stake in shares of Parker-Hannifin by 30.5% during the 3rd quarter. Kovack Advisors Inc. now owns 590 shares of the industrial products company’s stock worth $373,000 after acquiring an additional 138 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of Parker-Hannifin by 2.5% in the third quarter. Oppenheimer & Co. Inc. now owns 7,048 shares of the industrial products company’s stock valued at $4,453,000 after purchasing an additional 174 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Parker-Hannifin by 2.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 24,033 shares of the industrial products company’s stock worth $15,185,000 after purchasing an additional 628 shares in the last quarter. Finally, Pinnacle Financial Partners Inc boosted its holdings in Parker-Hannifin by 2.3% during the third quarter. Pinnacle Financial Partners Inc now owns 3,240 shares of the industrial products company’s stock worth $2,047,000 after purchasing an additional 74 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

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.