Brokerages Set Parker-Hannifin Co. (NYSE:PH) Price Target at $504.56

Parker-Hannifin Co. (NYSE:PHGet Free Report) has received an average rating of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $504.56.

Several analysts recently weighed in on the company. Stifel Nicolaus reissued a “buy” rating and set a $588.00 price target on shares of Parker-Hannifin in a report on Tuesday, March 5th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and upped their price target for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Wells Fargo & Company upped their price target on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a research report on Tuesday, December 19th. Wolfe Research reiterated a “peer perform” rating on shares of Parker-Hannifin in a research report on Monday, December 11th. Finally, Truist Financial began coverage on Parker-Hannifin in a research note on Thursday, March 14th. They issued a “buy” rating and a $602.00 price objective on the stock.

Check Out Our Latest Stock Analysis on PH

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction dated 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 completion of the sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $510.16, for a total value of $1,991,664.64. Following the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $6,693,299.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark J. Hart sold 5,197 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the transaction, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,079 shares of company stock valued at $6,099,566. Company insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Beaumont Asset Management L.L.C. grew its holdings in shares of 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 worth $1,415,000 after acquiring an additional 24 shares during the period. Wilbanks Smith & Thomas Asset Management LLC boosted its position in shares of Parker-Hannifin by 0.7% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock worth $1,417,000 after purchasing an additional 25 shares in the last quarter. M&R Capital Management Inc. boosted its position in shares of Parker-Hannifin by 25.0% in the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 25 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Parker-Hannifin by 0.7% in the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock worth $1,730,000 after purchasing an additional 25 shares in the last quarter. Finally, Keel Point LLC boosted its position in shares of Parker-Hannifin by 3.1% in the 4th quarter. Keel Point LLC now owns 842 shares of the industrial products company’s stock worth $388,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 82.25% of the company’s stock.

Parker-Hannifin Trading Down 1.0 %

NYSE PH opened at $554.89 on Tuesday. 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 cap of $71.25 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.07 and a beta of 1.52. Parker-Hannifin has a one year low of $308.26 and a one year high of $561.13. The stock’s 50-day moving average is $512.87 and its 200-day moving average is $450.70.

Parker-Hannifin (NYSE:PHGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business’s revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company earned $4.76 earnings per share. Sell-side analysts anticipate that Parker-Hannifin will post 24.2 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.07%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is 29.31%.

Parker-Hannifin Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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