Analysts Set Parker-Hannifin Co. (NYSE:PH) PT at $691.40

Parker-Hannifin Co. (NYSE:PH) has been given a consensus rating of “Moderate Buy” by the sixteen brokerages that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $691.40.

A number of analysts have recently issued reports on PH shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price for the company. in a research report on Monday, November 18th. Raymond James upped their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Evercore ISI upped their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $706.92 on Friday. The firm has a fifty day moving average price of $651.50 and a 200-day moving average price of $582.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The stock has a market cap of $90.99 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43. Parker-Hannifin has a 1 year low of $426.49 and a 1 year high of $712.42.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.96 earnings per share. Equities analysts anticipate that Parker-Hannifin will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Transactions at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Synovus Financial Corp increased its position in Parker-Hannifin by 12.5% during the 3rd quarter. Synovus Financial Corp now owns 3,417 shares of the industrial products company’s stock valued at $2,159,000 after purchasing an additional 380 shares during the period. Tidal Investments LLC increased its position in Parker-Hannifin by 10.8% during the 3rd quarter. Tidal Investments LLC now owns 9,683 shares of the industrial products company’s stock valued at $6,118,000 after purchasing an additional 946 shares during the period. Wilmington Savings Fund Society FSB increased its position in Parker-Hannifin by 176.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company’s stock valued at $5,755,000 after purchasing an additional 5,817 shares during the period. World Investment Advisors LLC purchased a new position in Parker-Hannifin during the 3rd quarter valued at about $584,000. Finally, Sanctuary Advisors LLC increased its position in Parker-Hannifin by 32.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 43,030 shares of the industrial products company’s stock valued at $27,187,000 after purchasing an additional 10,552 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

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.