Parker-Hannifin (NYSE:PH) Hits New 1-Year High – Here’s What Happened

Parker-Hannifin Corporation (NYSE:PH) hit a new 52-week high on Tuesday . The stock traded as high as $1,014.10 and last traded at $1,013.1750, with a volume of 168672 shares. The stock had previously closed at $1,001.75.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PH shares. Truist Financial set a $1,139.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. BNP Paribas Exane assumed coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price target for the company. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Finally, KeyCorp reissued an “overweight” rating and issued a $1,100.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $990.47.

Parker-Hannifin Stock Performance

The company has a fifty day moving average price of $923.06 and a two-hundred day moving average price of $827.10. The firm has a market cap of $127.48 billion, a price-to-earnings ratio of 36.83, a price-to-earnings-growth ratio of 3.23 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping the consensus estimate of $7.11 by $0.54. The firm had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. Parker-Hannifin’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $6.53 earnings per share. As a group, equities research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Friday, February 6th will be issued a $1.80 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio is currently 26.26%.

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,664 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the sale, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $13,106,880. This represents a 26.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the completion of the transaction, the vice president directly owned 1,000 shares in the company, valued at $949,940. This represents a 36.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 12,551 shares of company stock worth $12,117,502. 0.32% of the stock is owned by insiders.

Institutional Trading of Parker-Hannifin

Several institutional investors have recently made changes to their positions in the stock. HFM Investment Advisors LLC grew its holdings in shares of Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 30 shares in the last quarter. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin during the third quarter valued at $25,000. Lloyd Advisory Services LLC. purchased a new position in Parker-Hannifin in the fourth quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC increased its position in Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 16 shares during the last quarter. Finally, First Command Advisory Services Inc. raised its position in Parker-Hannifin by 1,133.3% during the fourth quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 34 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.