Parker-Hannifin Co. (NYSE:PH - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fifteen analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $660.57.
PH has been the topic of several analyst reports. Raymond James raised their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a research report on Wednesday, September 4th. Robert W. Baird lifted their price objective on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an "outperform" rating in a research note on Friday, August 9th. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI increased their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a report on Monday, August 19th.
Read Our Latest Stock Analysis on Parker-Hannifin
Parker-Hannifin Stock Performance
NYSE:PH traded up $0.50 during midday trading on Wednesday, reaching $625.61. 340,226 shares of the company traded hands, compared to its average volume of 632,024. Parker-Hannifin has a twelve month low of $362.49 and a twelve month high of $646.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The company has a fifty day moving average price of $612.93 and a 200 day moving average price of $563.35. The firm has a market capitalization of $80.50 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 2.52 and a beta of 1.43.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping analysts' consensus estimates of $6.22 by $0.55. The business had revenue of $5.19 billion for the quarter, compared to analysts' expectations of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $6.08 EPS. On average, analysts expect that Parker-Hannifin will post 26.68 EPS for the current fiscal year.
Parker-Hannifin Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. Parker-Hannifin's dividend payout ratio is currently 29.92%.
Insiders Place Their Bets
In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Berend Bracht sold 850 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company's stock, valued at approximately $2,299,947. This 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.
Hedge Funds Weigh In On Parker-Hannifin
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its stake in shares of Parker-Hannifin by 64,081.5% during the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company's stock worth $241,279,000 after acquiring an additional 381,285 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in Parker-Hannifin by 305.0% during the first quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company's stock valued at $171,069,000 after purchasing an additional 231,788 shares during the last quarter. AMF Tjanstepension AB raised its position in shares of Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company's stock valued at $383,594,000 after purchasing an additional 141,862 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Parker-Hannifin by 107.7% in the second quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company's stock worth $137,437,000 after buying an additional 140,898 shares during the last quarter. Finally, Swedbank AB grew its stake in Parker-Hannifin by 377.8% in the 3rd quarter. Swedbank AB now owns 158,085 shares of the industrial products company's stock valued at $99,881,000 after buying an additional 125,000 shares during the last quarter. Institutional investors own 82.44% of the company's stock.
About Parker-Hannifin
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Get Free ReportParker-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.
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