Brokerages Set Parker-Hannifin Co. (NYSE:PH) Price Target at $357.83

Shares of Parker-Hannifin Co. (NYSE:PH) have been assigned a consensus rating of “Buy” from the nineteen brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $357.83.

A number of analysts have issued reports on PH shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Parker-Hannifin from $327.00 to $351.00 and gave the company a “buy” rating in a report on Friday, December 10th. Melius upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Tuesday, October 12th. Vertical Research started coverage on shares of Parker-Hannifin in a report on Friday, October 8th. They issued a “buy” rating and a $337.00 price target on the stock. BMO Capital Markets lifted their price target on shares of Parker-Hannifin from $375.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday, November 9th. Finally, The Goldman Sachs Group started coverage on shares of Parker-Hannifin in a report on Sunday, December 12th. They issued a “buy” rating and a $375.00 price target on the stock.

Shares of Parker-Hannifin stock traded down $5.17 on Friday, hitting $322.62. 12,892 shares of the company’s stock were exchanged, compared to its average volume of 606,133. The stock has a market capitalization of $41.46 billion, a PE ratio of 22.54, a PEG ratio of 2.13 and a beta of 1.71. Parker-Hannifin has a 1 year low of $247.41 and a 1 year high of $334.98. The company has a 50-day simple moving average of $318.12 and a 200-day simple moving average of $304.75. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.03 and a current ratio of 1.72.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, November 4th. The industrial products company reported $4.26 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.68 by $0.58. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.64 billion. Parker-Hannifin had a net margin of 12.60% and a return on equity of 27.02%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm earned $3.07 EPS. On average, analysts expect that Parker-Hannifin will post 16.98 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 3rd. Shareholders of record on Friday, November 12th were given a $1.03 dividend. The ex-dividend date was Wednesday, November 10th. This represents a $4.12 annualized dividend and a yield of 1.28%. Parker-Hannifin’s dividend payout ratio (DPR) is 28.83%.

In other Parker-Hannifin news, CEO Thomas L. Williams sold 23,496 shares of the business’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $324.33, for a total value of $7,620,457.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew M. Weeks sold 2,595 shares of the business’s stock in a transaction dated Friday, November 5th. The shares were sold at an average price of $328.01, for a total transaction of $851,185.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,730 shares of company stock valued at $10,678,810. 1.47% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of PH. Viking Global Investors LP raised its stake in shares of Parker-Hannifin by 365.6% during the 3rd quarter. Viking Global Investors LP now owns 3,101,255 shares of the industrial products company’s stock worth $867,173,000 after acquiring an additional 2,435,138 shares in the last quarter. Winslow Capital Management LLC bought a new position in shares of Parker-Hannifin during the 2nd quarter worth approximately $266,947,000. Alliancebernstein L.P. raised its stake in shares of Parker-Hannifin by 455.1% during the 3rd quarter. Alliancebernstein L.P. now owns 967,444 shares of the industrial products company’s stock worth $270,517,000 after acquiring an additional 793,154 shares in the last quarter. State Street Corp raised its stake in shares of Parker-Hannifin by 10.5% during the 2nd quarter. State Street Corp now owns 5,800,365 shares of the industrial products company’s stock worth $1,781,350,000 after acquiring an additional 549,700 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Parker-Hannifin by 105.8% during the 3rd quarter. Invesco Ltd. now owns 1,039,139 shares of the industrial products company’s stock worth $290,564,000 after acquiring an additional 534,228 shares in the last quarter. Institutional investors and hedge funds own 78.21% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.

Featured Article: Certificate of Deposit (CD)

Analyst Recommendations for Parker-Hannifin (NYSE:PH)

Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.