Brokerages Set Parker-Hannifin Co. (NYSE:PH) PT at $709.65

Shares of Parker-Hannifin Co. (NYSE:PH - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the seventeen analysts that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $712.82.

Several research firms have recently weighed in on PH. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Barclays boosted their price objective on Parker-Hannifin from $703.00 to $800.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Robert W. Baird raised their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Mizuho upped their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Finally, UBS Group began coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They issued a "buy" rating and a $842.00 price objective for the company.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded down $4.53 during midday trading on Thursday, hitting $639.27. 656,139 shares of the company were exchanged, compared to its average volume of 638,217. The firm has a 50 day simple moving average of $670.48 and a 200-day simple moving average of $599.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The firm has a market cap of $82.29 billion, a P/E ratio of 28.87, a PEG ratio of 2.71 and a beta of 1.43. Parker-Hannifin has a 52 week low of $440.00 and a 52 week high of $712.42.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business's revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned $5.96 earnings per share. Research analysts forecast that Parker-Hannifin will post 26.75 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the sale, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 in the last 90 days. 0.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. State Street Corp lifted its position in Parker-Hannifin by 13.8% during the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock worth $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. FMR LLC increased its stake in shares of Parker-Hannifin by 7.1% during the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock worth $2,600,733,000 after purchasing an additional 272,531 shares during the period. Geode Capital Management LLC lifted its holdings in Parker-Hannifin by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company's stock worth $1,623,689,000 after purchasing an additional 29,408 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Parker-Hannifin by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company's stock valued at $1,007,102,000 after buying an additional 59,432 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

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.