Parker-Hannifin (NYSE:PH) Reaches New 52-Week High - Here's Why

Key Points

• Parker-Hannifin's stock reached a new 52-week high of $766.00, closing at $762.91 with a trading volume of 49,186 shares.
• Analysts have set a consensus price target of $768.71 for Parker-Hannifin, with a rating of "Moderate Buy" supported by fourteen buy ratings and four hold ratings.
• The company recently declared a quarterly dividend of $1.80, resulting in an annualized yield of 0.9% based on a payout ratio of 26.55%.

Shares of Parker-Hannifin Corporation (NYSE:PH - Get Free Report) hit a new 52-week high during trading on Wednesday . The company traded as high as $766.00 and last traded at $762.91, with a volume of 49186 shares changing hands. The stock had previously closed at $761.55.

Analyst Ratings Changes

A number of analysts have commented on PH shares. Morgan Stanley upped their target price on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Parker-Hannifin in a report on Friday, August 8th. Raymond James Financial upped their target price on shares of Parker-Hannifin from $735.00 to $845.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Susquehanna started coverage on shares of Parker-Hannifin in a report on Friday, August 15th. They set a "positive" rating and a $860.00 target price for the company. Finally, Evercore ISI reaffirmed an "outperform" rating on shares of Parker-Hannifin in a report on Tuesday, August 19th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $768.71.

Parker-Hannifin Stock Down 0.9%

The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 0.71. The company's 50-day simple moving average is $723.76 and its 200 day simple moving average is $663.28. The firm has a market cap of $97.08 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 3.18 and a beta of 1.37.

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

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be paid a $1.80 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $7.20 annualized dividend and a dividend yield of 0.9%. Parker-Hannifin's dividend payout ratio is currently 26.55%.

Insiders Place Their Bets

In other news, VP Matthew A. Jacobson sold 575 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $733.06, for a total value of $421,509.50. Following the sale, the vice president owned 1,000 shares of the company's stock, valued at approximately $733,060. This represents a 36.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Joseph R. Leonti sold 4,625 shares of the stock in a transaction on Monday, August 25th. The shares were sold at an average price of $750.84, for a total transaction of $3,472,635.00. Following the completion of the sale, the executive vice president directly owned 13,878 shares in the company, valued at approximately $10,420,157.52. This represents a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,039 shares of company stock valued at $10,356,566. 0.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently made changes to their positions in PH. Norges Bank purchased a new position in Parker-Hannifin in the 2nd quarter worth about $1,352,509,000. GAMMA Investing LLC increased 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 worth $1,054,870,000 after buying an additional 1,732,791 shares during the period. Nuveen LLC purchased a new position in Parker-Hannifin in the 1st quarter worth about $933,089,000. Royal Bank of Canada increased its stake in Parker-Hannifin by 99.8% in 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 buying an additional 1,137,564 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Parker-Hannifin by 52.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock worth $1,485,042,000 after buying an additional 842,262 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

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.