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

Parker-Hannifin Co. (NYSE:PH - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seventeen analysts that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $705.35.

A number of equities research analysts have weighed in on the stock. Citigroup cut their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Wells Fargo & Company boosted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Barclays reduced their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th.

Parker-Hannifin Trading Up 3.5 %

PH opened at $566.66 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin has a 52 week low of $488.45 and a 52 week high of $718.44. The stock has a market cap of $72.94 billion, a PE ratio of 23.45, a PEG ratio of 2.85 and a beta of 1.39. The business has a 50 day moving average of $613.99 and a 200-day moving average of $647.57.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Equities research analysts predict that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.15%. Parker-Hannifin's dividend payout ratio (DPR) is currently 26.99%.

Institutional Trading of Parker-Hannifin

A number of hedge funds have recently bought and sold shares of PH. Franklin Resources Inc. increased its position in shares of Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock valued at $415,409,000 after purchasing an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC purchased a new stake in Parker-Hannifin during the fourth quarter valued at approximately $23,390,000. SG Americas Securities LLC raised its position in Parker-Hannifin by 752.5% in the fourth quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock worth $15,507,000 after acquiring an additional 21,521 shares during the period. Columbus Macro LLC boosted its stake in shares of Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after acquiring an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in shares of Parker-Hannifin by 15.5% during the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after acquiring an additional 25,605 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Company Profile

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.

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