Parker-Hannifin (NYSE:PH) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Parker-Hannifin (NYSE:PH) from a hold rating to a buy rating in a research report released on Wednesday morning.

A number of other equities research analysts also recently issued reports on PH. Jefferies Financial Group boosted their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Citigroup boosted their target price on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the stock a “buy” rating in a report on Friday, January 30th. BNP Paribas Exane began coverage on shares of Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target on the stock. Barclays lifted their price target on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Truist Financial set a $1,139.00 price objective on shares of Parker-Hannifin in a research report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $990.47.

Parker-Hannifin Stock Performance

NYSE PH opened at $968.36 on Wednesday. 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 $122.23 billion, a PE ratio of 35.32, a price-to-earnings-growth ratio of 3.29 and a beta of 1.25. The business’s 50-day moving average price is $903.97 and its 200 day moving average price is $812.05. Parker-Hannifin has a twelve month low of $488.45 and a twelve month high of $979.44.

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

Parker-Hannifin Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 0.7%. Parker-Hannifin’s payout ratio is 26.26%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 3,507 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $864.58, for a total transaction of $3,032,082.06. Following the completion of the sale, the vice president owned 2,580 shares in the company, valued at $2,230,616.40. This trade represents a 57.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total value of $535,766.16. Following the sale, the vice president owned 1,000 shares in the company, valued at $949,940. This represents a 36.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,769 shares of company stock worth $9,649,169 over the last three months. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Procyon Advisors LLC grew its position 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 worth $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Norges Bank bought a new position in Parker-Hannifin in the 2nd quarter worth approximately $1,352,509,000. Canada Pension Plan Investment Board grew its holdings in Parker-Hannifin by 115.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after buying an additional 197,317 shares in the last quarter. Capital World Investors increased its position in Parker-Hannifin by 7.0% in the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after acquiring an additional 169,073 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Parker-Hannifin by 9.1% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock valued at $1,145,199,000 after acquiring an additional 136,359 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin News Summary

Here are the key news stories impacting Parker-Hannifin this week:

• Positive Sentiment: Wall Street Zen upgraded PH, which can attract buyers and support sentiment for the stock. Parker?Hannifin (NYSE:PH) Stock Rating Upgraded by Wall Street Zen
• Neutral Sentiment: Zacks published a momentum?style writeup arguing PH is a strong momentum stock, which may draw momentum traders but does not change fundamentals. Parker?Hannifin (PH) is a Great Momentum Stock: Should You Buy?
• Negative Sentiment: VP Matthew A. Jacobson sold 564 shares at about $949.94 (reducing his stake to 1,000 shares). Insider selling can be perceived as profit?taking or diversification and may worry some investors. SEC Filing – Form 4
• Negative Sentiment: VP Dinu J. Parel sold 1,316 shares at ~ $950.05 (reducing his position by ~16.8%). The size and timing of multiple exec sales may amplify investor concern about insider conviction. SEC Filing – Form 4
• Negative Sentiment: VP Berend Bracht sold 1,457 shares at about $946.48, a ~36% reduction in his holding. Multiple senior leaders selling in close succession has prompted press coverage highlighting “quiet” cash?outs. SEC Filing – Form 4
• Negative Sentiment: TipRanks ran a roundup noting senior Parker?Hannifin leaders “quietly” cashed out millions, which could amplify negative investor perception even if the sales are routine or pre?planned. Senior Parker Hannifin Leaders Quietly Cash Out Millions

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.