Parker-Hannifin (NYSE:PH) Sets New 1-Year High – Still a Buy?

Parker-Hannifin Corporation (NYSE:PH) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $1,026.29 and last traded at $1,019.4720, with a volume of 112662 shares traded. The stock had previously closed at $1,008.97.

Wall Street Analysts Forecast Growth

PH has been the topic of several recent research reports. Robert W. Baird set a $1,050.00 price target on Parker-Hannifin in a report on Friday, January 30th. Barclays upped their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Stifel Nicolaus lifted their price target on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research note on Friday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Finally, BNP Paribas Exane assumed coverage on Parker-Hannifin in a report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price target for the company. Sixteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $995.37.

Parker-Hannifin Stock Performance

The stock’s fifty day simple moving average is $935.69 and its 200-day simple moving average is $837.54. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $128.92 billion, a price-to-earnings ratio of 37.27, a price-to-earnings-growth ratio of 3.29 and a beta of 1.25.

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

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.26%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the transaction, the vice president owned 1,000 shares of the company’s stock, valued at $949,940. This trade represents a 36.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president directly owned 6,534 shares of the company’s stock, valued at approximately $6,207,626.70. This represents a 16.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 12,551 shares of company stock valued at $12,117,502. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ING Groep NV bought a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $26,398,000. Quadrant Capital Group LLC lifted its stake in shares of Parker-Hannifin by 20.1% in the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock worth $2,521,000 after buying an additional 604 shares during the last quarter. Procyon Advisors LLC grew its stake in Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after buying an additional 5,066,179 shares during the last quarter. Wilkinson Global Asset Management LLC raised its holdings in Parker-Hannifin by 28.2% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 48,434 shares of the industrial products company’s stock worth $36,720,000 after acquiring an additional 10,653 shares during the period. Finally, Advisors Capital Management LLC lifted its position in Parker-Hannifin by 140.0% during the 3rd quarter. Advisors Capital Management LLC now owns 2,232 shares of the industrial products company’s stock worth $1,693,000 after acquiring an additional 1,302 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

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.