Parker-Hannifin Corporation (NYSE:PH) Receives $719.71 Consensus Target Price from Brokerages

Parker-Hannifin Corporation (NYSE:PH) has earned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $719.71.

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating for the company in a report on Monday, April 14th. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $630.00 to $670.00 and gave the stock a “hold” rating in a report on Monday, June 2nd. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. Evercore ISI raised their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Finally, Mizuho set a $785.00 target price on shares of Parker-Hannifin in a report on Friday, May 16th.

Insider Activity at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president now owns 2,083 shares in the company, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Parker-Hannifin

Several large investors have recently modified their holdings of the business. Congress Asset Management Co. grew its position in shares of Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock worth $121,292,000 after buying an additional 25,605 shares during the last quarter. HUB Investment Partners LLC grew its position in shares of Parker-Hannifin by 15.7% in the 4th quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company’s stock worth $4,960,000 after buying an additional 1,057 shares during the last quarter. Congress Wealth Management LLC DE grew its position in shares of Parker-Hannifin by 67.8% in the 4th quarter. Congress Wealth Management LLC DE now owns 45,806 shares of the industrial products company’s stock worth $29,135,000 after buying an additional 18,503 shares during the last quarter. Washington Trust Bank grew its position in shares of Parker-Hannifin by 3,019.5% in the 4th quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company’s stock worth $9,881,000 after buying an additional 15,037 shares during the last quarter. Finally, Ascent Wealth Partners LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $1,216,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $652.45 on Thursday. Parker-Hannifin has a 52 week low of $488.45 and a 52 week high of $718.44. The stock has a market capitalization of $83.37 billion, a P/E ratio of 25.12, a PEG ratio of 3.04 and a beta of 1.34. The firm has a fifty day simple moving average of $633.39 and a two-hundred day simple moving average of $643.61. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The business had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the company posted $6.51 EPS. The business’s revenue was down 2.2% on a year-over-year basis. On average, analysts expect that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a dividend of $1.80 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a yield of 1.10%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.72%.

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.