Parker-Hannifin (NYSE:PH) Reaches New 1-Year High - What's Next?

Parker-Hannifin Co. (NYSE:PH - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $640.00 and last traded at $639.91, with a volume of 107330 shares. The stock had previously closed at $631.52.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PH shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Robert W. Baird boosted their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the stock an "outperform" rating in a research report on Friday, August 9th. StockNews.com upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Finally, TD Cowen increased their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the company a "hold" rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and an average price target of $649.86.

Parker-Hannifin Stock Performance

The firm has a market capitalization of $81.99 billion, a price-to-earnings ratio of 28.98, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43. The firm's 50-day moving average price is $593.45 and its two-hundred day moving average price is $556.28. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter last year, the company earned $6.08 EPS. Parker-Hannifin's revenue was up 1.8% on a year-over-year basis. Sell-side analysts predict that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a yield of 1.02%. Parker-Hannifin's dividend payout ratio (DPR) is 29.92%.

Insider Buying and Selling at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, VP Berend Bracht sold 850 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company's stock, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares of the company's stock, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company's stock.

Institutional Trading of Parker-Hannifin

A number of institutional investors have recently bought and sold shares of the business. Creative Planning raised its position in shares of Parker-Hannifin by 9.9% in the 3rd quarter. Creative Planning now owns 28,003 shares of the industrial products company's stock valued at $17,693,000 after acquiring an additional 2,513 shares during the period. Wesbanco Bank Inc. increased its stake in Parker-Hannifin by 0.7% in the third quarter. Wesbanco Bank Inc. now owns 33,037 shares of the industrial products company's stock valued at $20,873,000 after purchasing an additional 214 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Parker-Hannifin in the third quarter worth $268,000. Grove Bank & Trust boosted its position in shares of Parker-Hannifin by 20.7% during the third quarter. Grove Bank & Trust now owns 134 shares of the industrial products company's stock worth $85,000 after purchasing an additional 23 shares in the last quarter. Finally, ORG Partners LLC grew its holdings in shares of Parker-Hannifin by 164.8% in the 3rd quarter. ORG Partners LLC now owns 241 shares of the industrial products company's stock valued at $152,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

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.