Parker-Hannifin Corporation (NYSE:PH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Parker-Hannifin Corporation (NYSE:PH) have received a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $995.3684.

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. iA Financial set a $1,032.00 target price on Parker-Hannifin in a research note on Thursday, January 29th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, February 4th. Jefferies Financial Group raised their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a “buy” rating in a 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.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the sale, the vice president owned 2,580 shares in the company, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the sale, the chief financial officer directly owned 20,610 shares of the company’s stock, valued at $20,658,227.40. The trade was a 9.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 10,063 shares of company stock valued at $9,891,214 over the last quarter. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $25,000. Chilton Capital Management LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $29,000. HFM Investment Advisors LLC increased its holdings in shares of Parker-Hannifin by 1,000.0% in 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 during the period. Lloyd Advisory Services LLC. purchased a new stake in Parker-Hannifin in the 4th quarter valued at $31,000. Finally, Ameriflex Group Inc. boosted its stake in Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $890.28 on Friday. 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 fifty day simple moving average of $959.64 and a 200-day simple moving average of $858.10. The stock has a market cap of $112.37 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 2.91 and a beta of 1.23. Parker-Hannifin has a 12-month low of $488.45 and a 12-month high of $1,034.96.

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

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were paid a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

About Parker-Hannifin

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.