Brokerages Set Parker-Hannifin Co. (NYSE:PH) Price Target at $725.06

Parker-Hannifin Co. (NYSE:PH) has been given an average rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $729.18.

PH has been the subject of a number of research reports. Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Barclays lowered their price target on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Truist Financial boosted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, KeyCorp boosted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st.

Parker-Hannifin Trading Up 0.0 %

PH opened at $680.72 on Friday. The stock has a market cap of $87.62 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 2.84 and a beta of 1.45. The stock’s 50 day moving average price is $665.16 and its 200-day moving average price is $636.60. Parker-Hannifin has a one year low of $492.71 and a one year high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, equities analysts forecast that Parker-Hannifin will post 26.67 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Hedge Funds Weigh In On Parker-Hannifin

Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. increased its position in shares of Parker-Hannifin by 39.2% in the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after acquiring an additional 181,859 shares during the period. Howard Capital Management Group LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $23,390,000. SG Americas Securities LLC increased its position in shares of Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock valued at $15,507,000 after acquiring an additional 21,521 shares during the period. Wilkinson Global Asset Management LLC increased its position in shares of Parker-Hannifin by 59.1% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock valued at $24,700,000 after acquiring an additional 14,526 shares during the period. Finally, Columbus Macro LLC increased its position in shares of Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock valued at $6,838,000 after acquiring an additional 8,914 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

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.