Parker-Hannifin (NYSE:PH) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Parker-Hannifin (NYSE:PH) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday,Zacks reports.

A number of other equities research analysts have also issued reports on the company. Raymond James Financial upped their price target on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Wells Fargo & Company started coverage on Parker-Hannifin in a research report on Thursday, September 24th. They set an “equal weight” rating and a $1,050.00 price objective on the stock. Mizuho set a $1,200.00 price objective on Parker-Hannifin in a research report on Thursday, October 15th. TD Cowen boosted their price objective on Parker-Hannifin from $850.00 to $950.00 and gave the stock a “hold” rating in a research note on Wednesday, October 14th. Finally, Truist Financial upped their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $1,146.35.

Parker-Hannifin Stock Performance

PH opened at $972.53 on Tuesday. The firm has a market capitalization of $122.64 billion, a PE ratio of 33.40, a PEG ratio of 2.28 and a beta of 1.15. Parker-Hannifin has a twelve month low of $806.22 and a twelve month high of $1,099.94. The firm’s 50-day moving average price is $945.68 and its 200 day moving average price is $949.65. The company has a current ratio of 0.94, a quick ratio of 0.55 and a debt-to-equity ratio of 0.79.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, November 5th. The industrial products company reported $8.90 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $0.69. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.81 billion. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. Parker-Hannifin’s quarterly revenue was up 17.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $7.22 EPS. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. As a group, sell-side analysts expect that Parker-Hannifin will post 37.07 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, November 13th. Parker-Hannifin’s payout ratio is presently 27.47%.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, August 26th. The shares were 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 approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Polaris Financial Partners acquired a new stake in Parker-Hannifin during the third quarter worth $26,000. Latitude Advisors LLC purchased a new stake in Parker-Hannifin in the third quarter valued at $27,000. Archer Investment Corp purchased a new stake in Parker-Hannifin in the second quarter valued at $28,000. Team Financial Group LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $28,000. Finally, Pension & Wealth Management Advisors Inc. acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $30,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Company Profile

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.