Brokerages Set Parker-Hannifin Co. (NYSE:PH) Price Target at $515.38

Shares of Parker-Hannifin Co. (NYSE:PH) have earned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $515.38.

Several research firms recently weighed in on PH. Truist Financial began coverage on shares of Parker-Hannifin in a report on Thursday, March 14th. They issued a “buy” rating and a $602.00 target price for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 price target on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Evercore ISI raised their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their price target for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Finally, Barclays raised their price target on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd.

Parker-Hannifin Trading Down 0.7 %

Shares of Parker-Hannifin stock opened at $540.44 on Friday. The firm has a market capitalization of $69.40 billion, a PE ratio of 26.75, a P/E/G ratio of 1.99 and a beta of 1.52. Parker-Hannifin has a twelve month low of $309.89 and a twelve month high of $570.15. The firm’s 50-day moving average price is $539.64 and its 200 day moving average price is $470.64. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. Parker-Hannifin’s quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.76 EPS. On average, sell-side analysts predict that Parker-Hannifin will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were given a $1.48 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.10%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.31%.

Insider Activity at Parker-Hannifin

In related news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total value of $1,991,664.64. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $2,741,899.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $6,693,299.20. The disclosure for this sale can be found here. Insiders sold a total of 12,079 shares of company stock valued at $6,099,566 over the last ninety days. Insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Grimes & Company Inc. acquired a new position in Parker-Hannifin in the first quarter valued at $212,000. Capital Insight Partners LLC increased its stake in Parker-Hannifin by 53.2% in the first quarter. Capital Insight Partners LLC now owns 1,080 shares of the industrial products company’s stock valued at $600,000 after purchasing an additional 375 shares during the period. AMF Tjanstepension AB increased its stake in Parker-Hannifin by 12.9% in the first quarter. AMF Tjanstepension AB now owns 616,400 shares of the industrial products company’s stock valued at $342,660,000 after purchasing an additional 70,237 shares during the period. Indiana Trust & Investment Management CO increased its stake in Parker-Hannifin by 2,040.0% in the first quarter. Indiana Trust & Investment Management CO now owns 107 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 102 shares during the period. Finally, 180 Wealth Advisors LLC acquired a new position in Parker-Hannifin in the first quarter valued at $402,000. 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.