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
(
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.
Featured Stories
Before you consider Parker-Hannifin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Parker-Hannifin wasn't on the list.
While Parker-Hannifin currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report