Parker-Hannifin Co. (NYSE:PH) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Parker-Hannifin Co. (NYSE:PH - Get Free Report) has received an average recommendation of "Moderate Buy" from the sixteen ratings firms that are covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $566.33.

A number of equities research analysts have recently weighed in on PH shares. Mizuho raised Parker-Hannifin from a "neutral" rating to a "buy" rating and raised their price target for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Stifel Nicolaus raised their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a "buy" rating in a research note on Wednesday, April 3rd. TD Cowen raised Parker-Hannifin from an "underperform" rating to a "market perform" rating and raised their price target for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Wells Fargo & Company cut their price target on Parker-Hannifin from $640.00 to $630.00 and set an "overweight" rating for the company in a research note on Monday, May 6th. Finally, Argus raised their price target on Parker-Hannifin from $550.00 to $590.00 and gave the stock a "buy" rating in a research note on Monday, May 6th.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the sale, the vice president now owns 4,200 shares of the company's stock, valued at approximately $2,305,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total transaction of $592,209.15. Following the sale, the vice president now owns 4,200 shares of the company's stock, valued at approximately $2,305,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jay Reidy sold 572 shares of the business's stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The disclosure for this sale can be found here. Insiders own 1.03% of the company's stock.

Institutional Trading of Parker-Hannifin

Several institutional investors have recently bought and sold shares of PH. Sachetta LLC bought a new position in Parker-Hannifin in the 4th quarter valued at $25,000. Wetzel Investment Advisors Inc. bought a new position in Parker-Hannifin in the 4th quarter valued at $26,000. First United Bank & Trust bought a new position in Parker-Hannifin in the 4th quarter valued at $29,000. Harbor Investment Advisory LLC raised its position in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Parker-Hannifin in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

NYSE PH traded up $1.59 during trading hours on Thursday, hitting $504.22. The company had a trading volume of 590,591 shares, compared to its average volume of 639,754. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Parker-Hannifin has a fifty-two week low of $362.49 and a fifty-two week high of $570.15. The firm has a market cap of $64.81 billion, a P/E ratio of 23.69, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. The business has a fifty day simple moving average of $532.30 and a 200-day simple moving average of $514.77.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating analysts' consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the company posted $5.93 EPS. Parker-Hannifin's revenue for the quarter was up .3% on a year-over-year basis. Equities analysts predict that Parker-Hannifin will post 24.84 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were issued a $1.63 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.29%. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.48. Parker-Hannifin's dividend payout ratio (DPR) is 30.73%.

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.