Parker-Hannifin Co. (NYSE:PH) Receives $719.71 Consensus Target Price from Analysts

Parker-Hannifin Co. (NYSE:PH - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen analysts that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $719.71.

A number of equities research analysts have issued reports on the company. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Truist Financial decreased their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Mizuho set a $785.00 price target on Parker-Hannifin in a research note on Friday, May 16th. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Finally, Morgan Stanley assumed coverage on shares of Parker-Hannifin in a research report on Thursday, June 5th. They set an "equal weight" rating and a $700.00 target price for the company.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president now owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after acquiring an additional 101 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $32,781,000. Kingsview Wealth Management LLC grew its stake in shares of Parker-Hannifin by 5.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 1,896 shares of the industrial products company's stock worth $1,206,000 after acquiring an additional 97 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Parker-Hannifin by 15.2% in the fourth quarter. Empowered Funds LLC now owns 2,879 shares of the industrial products company's stock valued at $1,831,000 after acquiring an additional 380 shares in the last quarter. Finally, Savant Capital LLC grew its stake in Parker-Hannifin by 8.1% during the 4th quarter. Savant Capital LLC now owns 3,710 shares of the industrial products company's stock worth $2,359,000 after purchasing an additional 277 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded down $5.50 on Thursday, hitting $666.25. 493,225 shares of the company's stock were exchanged, compared to its average volume of 707,680. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market capitalization of $85.13 billion, a PE ratio of 27.58, a PEG ratio of 2.85 and a beta of 1.34. Parker-Hannifin has a 1 year low of $488.45 and a 1 year high of $718.44. The company has a 50-day simple moving average of $623.09 and a 200-day simple moving average of $645.18.

Parker-Hannifin (NYSE:PH - Get Free Report) last released 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. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the previous year, the company posted $6.51 earnings per share. Parker-Hannifin's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a $1.80 dividend. The ex-dividend date was Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.08%. Parker-Hannifin's payout ratio is presently 27.72%.

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.