Parker-Hannifin Corporation (NYSE:PH) Stock Has Consensus Price Target of $1,146.35 According to Brokerages

Parker-Hannifin Corporation (NYSE:PH) has been given an average rating of “Moderate Buy” by the twenty-three analysts that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $1,146.35.

Several research firms have recently commented on PH. Citigroup increased their price target on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the company a “buy” rating in a research report on Monday, October 12th. Evercore lifted their price objective on Parker-Hannifin from $1,064.00 to $1,217.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 11th. Raymond James Financial upped their target price on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Monday, August 10th. Mizuho set a $1,200.00 target price on Parker-Hannifin in a research note on Thursday, October 15th. Finally, TD Cowen increased their target price on Parker-Hannifin from $850.00 to $950.00 and gave the company a “hold” rating in a report on Wednesday, October 14th.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $880.03 on Friday. The firm has a market capitalization of $110.98 billion, a PE ratio of 30.89, a P/E/G ratio of 2.45 and a beta of 1.12. Parker-Hannifin has a 52 week low of $755.10 and a 52 week high of $1,099.94. The firm’s 50-day simple moving average is $966.89 and its 200 day simple moving average is $951.03. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities research analysts predict that Parker-Hannifin will post 35.72 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were issued a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, August 31st. Parker-Hannifin’s payout ratio is 28.08%.

Insider Activity

In related news, VP Berend Bracht sold 602 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PH. Apollon Wealth Management LLC lifted its stake in shares of Parker-Hannifin by 3.4% during the third quarter. Apollon Wealth Management LLC now owns 23,517 shares of the industrial products company’s stock worth $22,468,000 after purchasing an additional 763 shares in the last quarter. Holos Integrated Wealth LLC raised its holdings in shares of Parker-Hannifin by 357.1% during the 3rd quarter. Holos Integrated Wealth LLC now owns 96 shares of the industrial products company’s stock valued at $93,000 after buying an additional 75 shares during the period. Tower View Wealth Management LLC raised its holdings in shares of Parker-Hannifin by 31.2% during the 3rd quarter. Tower View Wealth Management LLC now owns 7,111 shares of the industrial products company’s stock valued at $6,794,000 after buying an additional 1,692 shares during the period. Sigma Planning Corp lifted its position in Parker-Hannifin by 162.7% during the 3rd quarter. Sigma Planning Corp now owns 3,331 shares of the industrial products company’s stock worth $3,180,000 after acquiring an additional 2,063 shares in the last quarter. Finally, IRON Financial LLC acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $254,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.