Parker-Hannifin (NYSE:PH) Hits New 12-Month High - Time to Buy?

Key Points

• Parker-Hannifin's shares reached a new 52-week high of $776.42, with analysts providing mixed ratings and price targets ranging from $726.00 to $810.00.
• The company reported quarterly earnings of $7.69 EPS, exceeding expectations, with a revenue increase of 1.1% year-over-year.
• Parker-Hannifin declared a quarterly dividend of $1.80 per share, reflecting an annualized yield of 0.9% and a dividend payout ratio of 26.55%.

Shares of Parker-Hannifin Corporation (NYSE:PH - Get Free Report) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $775.67 and last traded at $776.42, with a volume of 42248 shares trading hands. The stock had previously closed at $765.28.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PH shares. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a research note on Friday, May 16th. KeyCorp lifted their target price on shares of Parker-Hannifin from $790.00 to $810.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Evercore ISI reissued an "outperform" rating on shares of Parker-Hannifin in a research note on Tuesday, August 19th. Finally, Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Sunday. Thirteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average price target of $770.94.

Parker-Hannifin Stock Up 1.3%

The company has a market cap of $99.05 billion, a PE ratio of 28.60, a PEG ratio of 3.13 and a beta of 1.35. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19. The stock's 50 day moving average price is $734.38 and its 200-day moving average price is $666.88.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping the consensus estimate of $7.08 by $0.61. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. On average, analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 2nd. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.55%.

Insider Activity

In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the transaction, the vice president owned 2,798 shares in the company, valued at $2,035,153.28. The trade was a 22.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Matthew A. Jacobson sold 575 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $733.06, for a total transaction of $421,509.50. Following the completion of the sale, the vice president directly owned 1,000 shares of the company's stock, valued at approximately $733,060. This trade represents a 36.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,039 shares of company stock worth $10,356,566. 0.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Parker-Hannifin

A number of hedge funds and other institutional investors have recently made changes to their positions in PH. Norges Bank acquired a new stake in Parker-Hannifin in the 2nd quarter valued at $1,352,509,000. GAMMA Investing LLC grew its stake in Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock valued at $1,054,870,000 after acquiring an additional 1,732,791 shares during the period. Nuveen LLC acquired a new stake in Parker-Hannifin in the 1st quarter valued at $933,089,000. Royal Bank of Canada boosted its stake in Parker-Hannifin by 99.8% during the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after purchasing an additional 1,137,564 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Parker-Hannifin by 52.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock valued at $1,485,042,000 after buying an additional 842,262 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

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.

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