Parker-Hannifin Corporation (NYSE:PH) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Parker-Hannifin Corporation (NYSE:PH - Get Free Report) have been given a consensus rating of "Moderate Buy" by the seventeen analysts that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $719.41.

Several research analysts recently commented on PH shares. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Truist Financial dropped their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Citigroup dropped their price objective on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a report on Tuesday, July 1st.

Parker-Hannifin Stock Up 0.1%

Shares of Parker-Hannifin stock traded up $0.81 during midday trading on Monday, reaching $707.40. 493,556 shares of the company's stock traded hands, compared to its average volume of 697,547. The company has a market cap of $90.39 billion, a price-to-earnings ratio of 27.24, a price-to-earnings-growth ratio of 3.10 and a beta of 1.34. The company's 50 day simple moving average is $664.18 and its 200 day simple moving average is $644.27. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. Parker-Hannifin has a 52 week low of $488.45 and a 52 week high of $720.90.

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 for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. Parker-Hannifin's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $6.51 EPS. Equities analysts expect that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a $1.80 dividend. The ex-dividend date was Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin's payout ratio is 27.72%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president directly owned 2,083 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Parker-Hannifin

Large investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of Parker-Hannifin during the first quarter worth approximately $27,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $30,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $32,000. Finally, Saudi Central Bank bought a new stake in shares of Parker-Hannifin during the first quarter worth approximately $31,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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.