Parker-Hannifin Corporation (NYSE:PH) Stock Has Consensus Price Target of $1,146.35

Key Points

• Analysts maintain a Moderate Buy consensus on Parker-Hannifin, with 18 buy ratings and five holds among 23 analysts. The average 12-month price target is $1,146.35, with several firms recently raising their targets.
• Parker-Hannifin’s latest quarterly results exceeded expectations, with EPS of $9.27 versus the $8.31 consensus and revenue of $5.75 billion, up 9.8% year over year.
• The company pays a quarterly dividend of $2.00, or $8.00 annually, representing a 0.9% yield and a 28.08% payout ratio. Institutional investors own 82.44% of the outstanding shares.

Parker-Hannifin Corporation (NYSE:PH - Get Free Report) has received an average recommendation of "Moderate Buy" from the twenty-three analysts that are covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $1,146.35.

Several analysts recently weighed in on PH shares. Argus raised their target price on shares of Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a "buy" rating in a report on Monday, August 10th. Citigroup raised their price objective on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the stock a "buy" rating in a report on Monday, October 12th. TD Cowen increased their price objective on Parker-Hannifin from $850.00 to $950.00 and gave the company a "hold" rating in a report on Wednesday, October 14th. Mizuho set a $1,200.00 price objective on shares of Parker-Hannifin in a research report on Thursday, October 15th. Finally, KeyCorp lifted their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a report on Friday, August 7th.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $880.03 on Friday. The firm has a market cap of $110.98 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 2.45 and a beta of 1.12. Parker-Hannifin has a 52-week low of $755.10 and a 52-week high of $1,099.94. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $966.89 and its two-hundred day moving average is $951.03.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The business had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.57 billion. During the same quarter last year, the business posted $7.69 EPS. The business's quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, research analysts expect that Parker-Hannifin will post 35.72 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were given a $2.00 dividend. The ex-dividend date was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin's dividend payout ratio (DPR) is presently 28.08%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the business's stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the transaction, the vice president owned 4,399 shares in the company, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.35% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Parker-Hannifin in the second quarter valued at about $10,163,362,000. Bank of America Corp DE acquired a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $3,273,507,000. Deutsche Bank AG purchased a new position in Parker-Hannifin in the 2nd quarter valued at approximately $987,587,000. Bank of New York Mellon Corp purchased a new position in Parker-Hannifin in the 2nd quarter valued at approximately $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Parker-Hannifin during the second quarter worth $305,628,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.