Parker-Hannifin Co. (NYSE:PH) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Parker-Hannifin Co. (NYSE:PH) have received an average recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $719.71.

A number of research analysts recently weighed in on PH shares. Truist Financial reduced their target price on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley started coverage on Parker-Hannifin in a report on Thursday, June 5th. They issued an “equal weight” rating and a $700.00 target price on the stock. Evercore ISI lifted their target price on Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Barclays reduced their target price on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Finally, KeyCorp lifted their target price on Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 2nd.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $661.66 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a fifty day moving average of $631.16 and a two-hundred day moving average of $643.49. The company has a market capitalization of $84.55 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 2.85 and a beta of 1.34. Parker-Hannifin has a fifty-two week low of $488.45 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter last year, the firm earned $6.51 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. On average, analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were paid a $1.80 dividend. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.09%. Parker-Hannifin’s payout ratio is 27.72%.

Insider Buying and Selling

In related news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares of the company’s stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.39% of the company’s stock.

Institutional Trading of Parker-Hannifin

Hedge funds and other institutional investors have recently bought and sold shares of the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin in the fourth quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Wealth Preservation Advisors LLC bought a new position in shares of Parker-Hannifin during the first quarter valued at approximately $27,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $30,000. Finally, Saudi Central Bank bought a new position in shares of Parker-Hannifin during the first quarter valued at approximately $31,000. 82.44% of the stock is 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.