Parker-Hannifin Co. (NYSE:PH) Given Average Rating of "Moderate Buy" by Analysts

Shares of Parker-Hannifin Co. (NYSE:PH - Get Free Report) have received a consensus rating of "Moderate Buy" from the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $722.94.

A number of brokerages have weighed in on PH. Wolfe Research upgraded shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 target price for the company in a research report on Thursday, December 12th. StockNews.com upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Truist Financial lifted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Barclays increased their price objective on Parker-Hannifin from $703.00 to $800.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Finally, Argus upped their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $628.97 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The firm has a market cap of $80.96 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 2.71 and a beta of 1.45. Parker-Hannifin has a 52 week low of $453.18 and a 52 week high of $712.42. The firm's 50-day simple moving average is $673.28 and its two-hundred day simple moving average is $614.87.

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

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin's payout ratio is currently 29.45%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin 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 transaction, the vice president now directly owns 5,465 shares of the company's stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Parker-Hannifin

Institutional investors have recently modified their holdings of the company. CVA Family Office LLC grew its stake in Parker-Hannifin by 3.9% in the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company's stock worth $269,000 after purchasing an additional 16 shares during the period. Tilia Fiduciary Partners Inc. grew its position in shares of Parker-Hannifin by 0.7% in the 4th quarter. Tilia Fiduciary Partners Inc. now owns 2,521 shares of the industrial products company's stock worth $1,603,000 after buying an additional 18 shares during the period. Sonoma Private Wealth LLC increased its stake in shares of Parker-Hannifin by 2.9% in the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company's stock worth $421,000 after acquiring an additional 19 shares in the last quarter. W Advisors LLC lifted its position in Parker-Hannifin by 3.4% during the 3rd quarter. W Advisors LLC now owns 581 shares of the industrial products company's stock valued at $367,000 after acquiring an additional 19 shares during the period. Finally, Simmons Bank raised its holdings in Parker-Hannifin by 0.7% in the 3rd quarter. Simmons Bank now owns 2,753 shares of the industrial products company's stock worth $1,739,000 after acquiring an additional 19 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

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.