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

Shares of Parker-Hannifin Corporation (NYSE:PH) have earned an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $1,114.55.

Several research firms have recently weighed in on PH. UBS Group raised their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Truist Financial boosted their target price on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a report on Friday, August 7th. KeyCorp raised their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Susquehanna increased their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th.

Insider Activity at Parker-Hannifin

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 value of $626,362.94. Following the transaction, the vice president directly 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 SEC, which is available at this link. 0.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tortoise Investment Management LLC boosted its position in Parker-Hannifin by 6.4% during the second quarter. Tortoise Investment Management LLC now owns 629 shares of the industrial products company’s stock valued at $615,000 after purchasing an additional 38 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Parker-Hannifin by 10.0% during the second quarter. Sequoia Financial Advisors LLC now owns 60,061 shares of the industrial products company’s stock valued at $58,747,000 after purchasing an additional 5,473 shares during the last quarter. Archford Capital Strategies LLC boosted its holdings in Parker-Hannifin by 77.5% during the second quarter. Archford Capital Strategies LLC now owns 2,072 shares of the industrial products company’s stock valued at $2,027,000 after acquiring an additional 905 shares during the period. National Pension Service grew its stake in shares of Parker-Hannifin by 3.0% in the second quarter. National Pension Service now owns 367,138 shares of the industrial products company’s stock worth $359,105,000 after acquiring an additional 10,590 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Parker-Hannifin by 7.7% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 780 shares of the industrial products company’s stock valued at $763,000 after buying an additional 56 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $950.36 on Friday. Parker-Hannifin has a 12-month low of $715.37 and a 12-month high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The firm has a market capitalization of $119.79 billion, a price-to-earnings ratio of 33.36, a price-to-earnings-growth ratio of 2.54 and a beta of 1.13. The business has a 50 day simple moving average of $989.63 and a 200 day simple moving average of $947.48.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the business earned $7.69 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities research analysts anticipate that Parker-Hannifin will post 35 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date was Monday, August 31st. Parker-Hannifin’s payout ratio is presently 28.08%.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE:PH) is a diversified manufacturer of motion and control technologies. The company develops and produces systems and components that manage the movement and flow of liquids, gases and other materials for industrial, mobile and aerospace applications.

Its products include hydraulic and pneumatic systems, fluid connectors, filtration and process-control equipment, electromechanical technologies, seals, thermal-management solutions and aerospace systems. Parker-Hannifin serves manufacturers and operators in markets such as factory automation, transportation, energy, construction, life sciences and aviation.

Founded in 1917, Parker-Hannifin is headquartered in Cleveland, Ohio, and serves customers through manufacturing, distribution and sales operations across North America, Europe, Asia and other international markets.