Analysts Set Parker-Hannifin Co. (NYSE:PH) Price Target at $515.38

Parker-Hannifin Co. (NYSE:PH) has earned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $515.38.

Several brokerages have recently weighed in on PH. KeyCorp lifted their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Barclays lifted their target price on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Truist Financial began coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They set a “buy” rating and a $602.00 target price on the stock. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $551.00 price target on shares of Parker-Hannifin in a research report on Tuesday, January 2nd.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were 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 directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock valued at $6,099,566 over the last ninety days. Insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Large investors have recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in shares of Parker-Hannifin during the third quarter worth $25,000. Sachetta LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $26,000. Baystate Wealth Management LLC increased its position in shares of Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 49 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. bought a new stake in shares of Parker-Hannifin during the third quarter worth $29,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $543.37 on Friday. The firm’s 50-day moving average is $538.46 and its 200-day moving average is $469.06. Parker-Hannifin has a 52-week low of $309.89 and a 52-week high of $570.15. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The company has a market cap of $69.77 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.01 and a beta of 1.52.

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

Parker-Hannifin Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.31%.

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.