UBS Group Initiates Coverage on Parker-Hannifin (NYSE:PH)

UBS Group initiated coverage on shares of Parker-Hannifin (NYSE:PH - Free Report) in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $842.00 price target on the industrial products company's stock.

A number of other research analysts also recently commented on the company. StockNews.com raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, October 12th. TD Cowen lifted their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft raised their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a report on Friday, August 9th. Stifel Nicolaus lifted their target price on Parker-Hannifin from $633.00 to $691.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. Finally, Barclays increased their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $688.07.

Parker-Hannifin Stock Performance

NYSE:PH traded up $7.14 on Wednesday, hitting $706.46. The company's stock had a trading volume of 537,485 shares, compared to its average volume of 646,144. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $90.94 billion, a P/E ratio of 31.95, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. Parker-Hannifin has a one year low of $422.36 and a one year high of $711.60. The stock has a fifty day moving average of $628.60 and a two-hundred day moving average of $572.14.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the business earned $5.96 earnings per share. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts predict that Parker-Hannifin will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.92%. Parker-Hannifin's payout ratio is 29.45%.

Insider Activity at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the business's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company's stock, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated 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 owns 3,350 shares of the company's stock, valued at $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,678 shares of company stock worth $13,840,428 in the last 90 days. Corporate insiders own 0.39% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PH. West Branch Capital LLC purchased a new stake in Parker-Hannifin during the 3rd quarter worth about $25,000. Bangor Savings Bank grew its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Addison Advisors LLC bought a new stake in Parker-Hannifin during the second quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin during the 3rd quarter worth $39,000. Finally, Fortitude Family Office LLC lifted its stake in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock worth $34,000 after purchasing an additional 52 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

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.