Parker-Hannifin Co. (NYSE:PH) Given Average Rating of “Moderate Buy” by Brokerages

Parker-Hannifin Co. (NYSE:PH) has received an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $736.65.

Several equities research analysts recently weighed in on the stock. Citigroup began coverage on shares of Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price objective on the stock. Evercore ISI raised their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. UBS Group lowered their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Truist Financial increased their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday, January 31st.

Parker-Hannifin Trading Down 7.1 %

NYSE:PH opened at $517.00 on Friday. Parker-Hannifin has a 52 week low of $492.71 and a 52 week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $66.55 billion, a PE ratio of 21.40, a P/E/G ratio of 2.85 and a beta of 1.50. The business’s 50 day moving average is $649.18 and its two-hundred day moving average is $653.93.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, analysts predict that Parker-Hannifin will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is currently 26.99%.

Institutional Trading of Parker-Hannifin

A number of hedge funds and other institutional investors have recently modified their holdings of PH. Global Retirement Partners LLC boosted its stake in Parker-Hannifin by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock valued at $886,000 after buying an additional 15 shares in the last quarter. FFT Wealth Management LLC boosted its position in shares of Parker-Hannifin by 1.3% during the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 15 shares in the last quarter. GenTrust LLC grew its stake in shares of Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 15 shares during the last quarter. First Manhattan CO. LLC. raised its holdings in shares of Parker-Hannifin by 1.0% in the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock worth $1,005,000 after purchasing an additional 15 shares in the last quarter. Finally, Grove Bank & Trust lifted its stake in Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

About Parker-Hannifin

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.