Parker-Hannifin (NYSE:PH) Hits New 52-Week High at $435.33

Shares of Parker-Hannifin Co. (NYSE:PH) reached a new 52-week high during trading on Tuesday . The company traded as high as $435.33 and last traded at $433.26, with a volume of 89650 shares traded. The stock had previously closed at $431.53.

Analysts Set New Price Targets

A number of research firms have recently commented on PH. Stifel Nicolaus reissued a “buy” rating and set a $470.00 target price on shares of Parker-Hannifin in a research note on Wednesday, October 11th. Bank of America upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their target price for the company from $435.00 to $475.00 in a report on Thursday, October 5th. Wells Fargo & Company decreased their target price on shares of Parker-Hannifin from $465.00 to $425.00 in a report on Monday, October 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating and boosted their target price for the company from $462.00 to $506.00 in a report on Thursday, November 9th. Finally, KeyCorp boosted their target price on shares of Parker-Hannifin from $450.00 to $460.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $450.71.

Parker-Hannifin Price Performance

The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.50. The stock has a 50 day moving average price of $394.29 and a two-hundred day moving average price of $384.94. The firm has a market capitalization of $55.65 billion, a price-to-earnings ratio of 23.96, a PEG ratio of 1.56 and a beta of 1.49.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $5.96 earnings per share for the quarter, beating analysts’ consensus estimates of $5.33 by $0.63. Parker-Hannifin had a return on equity of 29.56% and a net margin of 11.92%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.88 billion. During the same period in the previous year, the firm posted $4.74 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. As a group, analysts expect that Parker-Hannifin Co. will post 23.14 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Monday, November 13th will be paid a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $5.92 annualized dividend and a yield of 1.37%. Parker-Hannifin’s payout ratio is 32.87%.

Insider Buying and Selling

In related news, CFO Todd M. Leombruno sold 5,002 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $416.11, for a total transaction of $2,081,382.22. Following the completion of the transaction, the chief financial officer now directly owns 11,656 shares of the company’s stock, valued at approximately $4,850,178.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Parker-Hannifin news, CFO Todd M. Leombruno sold 5,002 shares of Parker-Hannifin stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $416.11, for a total transaction of $2,081,382.22. Following the completion of the sale, the chief financial officer now directly owns 11,656 shares of the company’s stock, valued at approximately $4,850,178.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Scaminace sold 1,660 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $409.91, for a total value of $680,450.60. Following the completion of the sale, the director now directly owns 5,487 shares of the company’s stock, valued at $2,249,176.17. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

Institutional Trading of Parker-Hannifin

Institutional investors and hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Parker-Hannifin in the 3rd quarter valued at about $25,000. Baystate Wealth Management LLC increased its position in Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares during the period. DHJJ Financial Advisors Ltd. acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $29,000. First Capital Advisors Group LLC. acquired a new position in Parker-Hannifin during the 2nd quarter worth approximately $30,000. Finally, Oakworth Capital Inc. increased its position in Parker-Hannifin by 48.3% during the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 28 shares during the period. 82.25% of the stock is owned by hedge funds and other institutional investors.

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.