Parker-Hannifin Corporation (NYSE:PH) Receives $990.47 Consensus Price Target from Brokerages

Parker-Hannifin Corporation (NYSE:PH) has received an average recommendation of “Moderate Buy” from the twenty-one analysts that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $990.4737.

A number of research analysts have weighed in on the company. Susquehanna reissued a “positive” rating and set a $1,000.00 price target on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Wall Street Zen upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Argus restated a “buy” rating and issued a $900.00 price target on shares of Parker-Hannifin in a report on Monday, November 10th. Finally, Citigroup upped their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research note on Friday, January 30th.

Parker-Hannifin Trading Up 1.0%

Shares of PH stock opened at $1,022.31 on Tuesday. The company has a market capitalization of $129.04 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 3.29 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $933.20 and a 200 day moving average price of $834.58. Parker-Hannifin has a twelve month low of $488.45 and a twelve month high of $1,024.58.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The business had revenue of $5.17 billion during the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.53 earnings per share. Research analysts forecast that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president owned 1,000 shares of the company’s stock, valued at approximately $949,940. The trade was a 36.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Berend Bracht sold 1,457 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the transaction, the vice president owned 2,580 shares in the company, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,551 shares of company stock worth $12,117,502 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. JFS Wealth Advisors LLC raised its stake in shares of Parker-Hannifin by 6.8% in the 4th quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 11 shares during the period. Avion Wealth raised its position in Parker-Hannifin by 35.5% in the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 11 shares during the period. Moneta Group Investment Advisors LLC lifted its stake in shares of Parker-Hannifin by 1.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock worth $540,000 after purchasing an additional 11 shares in the last quarter. Inspire Advisors LLC boosted its position in shares of Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after buying an additional 11 shares during the period. Finally, 180 Wealth Advisors LLC grew its stake in shares of Parker-Hannifin by 1.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company’s stock valued at $573,000 after buying an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.