Parker-Hannifin Co. (NYSE:PH - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $607.90 and traded as high as $639.23. Parker-Hannifin shares last traded at $637.68, with a volume of 529,199 shares changing hands.
Wall Street Analyst Weigh In
PH has been the subject of a number of recent research reports. Wells Fargo & Company upped their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, October 12th. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Jefferies Financial Group lifted their price target on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, KeyCorp increased their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $722.94.
View Our Latest Stock Report on Parker-Hannifin
Parker-Hannifin Price Performance
The firm has a market cap of $82.08 billion, a P/E ratio of 28.80, a P/E/G ratio of 2.71 and a beta of 1.45. The company has a fifty day moving average of $672.41 and a 200-day moving average of $608.81. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the business posted $5.96 EPS. The business's revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.
Parker-Hannifin Dividend Announcement
The firm also recently announced 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 payout ratio is presently 29.45%.
Insider Activity
In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the sale, the chief executive officer now directly owns 33,607 shares of the company's stock, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock valued at $12,303,829 over the last three months. Corporate insiders own 0.39% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the business. FineMark National Bank & Trust increased its position in shares of Parker-Hannifin by 5.6% during the second quarter. FineMark National Bank & Trust now owns 456 shares of the industrial products company's stock valued at $231,000 after buying an additional 24 shares during the period. TD Asset Management Inc increased its holdings in Parker-Hannifin by 9.6% during the 2nd quarter. TD Asset Management Inc now owns 144,973 shares of the industrial products company's stock worth $73,329,000 after acquiring an additional 12,742 shares during the period. Kornitzer Capital Management Inc. KS grew its holdings in shares of Parker-Hannifin by 4.8% during the second quarter. Kornitzer Capital Management Inc. KS now owns 4,207 shares of the industrial products company's stock worth $2,128,000 after purchasing an additional 191 shares in the last quarter. MCF Advisors LLC raised its position in shares of Parker-Hannifin by 5.8% during the 2nd quarter. MCF Advisors LLC now owns 1,086 shares of the industrial products company's stock valued at $549,000 after buying an additional 60 shares in the last quarter. Finally, BBR Partners LLC lifted its stake in Parker-Hannifin by 0.9% during the second quarter. BBR Partners LLC now owns 3,479 shares of the industrial products company's stock worth $1,760,000 after purchasing an additional 32 shares during the last quarter. 82.44% of the stock is owned by institutional investors.
About Parker-Hannifin
(
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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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