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

Parker-Hannifin Co. (NYSE:PH - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the sixteen brokerages that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $718.44.

PH has been the subject of several recent research reports. UBS Group lowered their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Truist Financial lowered their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.39% of the company's stock.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds have recently added to or reduced their stakes in the stock. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth $25,000. Aster Capital Management DIFC Ltd purchased a new position in Parker-Hannifin in the 4th quarter worth about $25,000. Wealth Preservation Advisors LLC bought a new position in Parker-Hannifin during the 1st quarter valued at about $27,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $30,000. Finally, Saudi Central Bank bought a new stake in shares of Parker-Hannifin in the first quarter worth approximately $31,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 0.1%

Shares of Parker-Hannifin stock traded up $0.91 during trading on Friday, reaching $680.19. The company's stock had a trading volume of 856,657 shares, compared to its average volume of 720,067. 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 firm's 50-day moving average is $604.68 and its two-hundred day moving average is $647.65. The company has a market cap of $86.91 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The company's revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $6.51 earnings per share. On average, sell-side analysts anticipate that Parker-Hannifin will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a $1.80 dividend. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a yield of 1.06%. Parker-Hannifin's dividend payout ratio is 27.72%.

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.