Shares of Parker-Hannifin Corporation (NYSE:PH) have been given an average recommendation of “Buy” by the twenty-two analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $174.00.
A number of analysts have recently issued reports on the company. KeyCorp reiterated an “overweight” rating and set a $185.00 target price on shares of Parker-Hannifin Corporation in a report on Saturday. ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Robert W. Baird set a $163.00 target price on Parker-Hannifin Corporation and gave the company a “hold” rating in a research report on Thursday, August 24th. BidaskClub lowered Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $165.00 target price (up from $163.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday, August 9th.
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In related news, VP Joseph R. Leonti sold 408 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total value of $65,565.60. Following the completion of the sale, the vice president now directly owns 7,318 shares of the company’s stock, valued at approximately $1,176,002.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Scaminace sold 500 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $158.35, for a total value of $79,175.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,389 shares of company stock valued at $878,913. Company insiders own 2.73% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. USA Financial Portformulas Corp lifted its stake in Parker-Hannifin Corporation by 19.2% in the 2nd quarter. USA Financial Portformulas Corp now owns 21,544 shares of the industrial products company’s stock worth $3,443,000 after acquiring an additional 3,476 shares in the last quarter. Sentry Investment Management LLC lifted its stake in Parker-Hannifin Corporation by 1.9% in the 2nd quarter. Sentry Investment Management LLC now owns 34,457 shares of the industrial products company’s stock worth $5,507,000 after acquiring an additional 658 shares in the last quarter. Toronto Dominion Bank lifted its stake in Parker-Hannifin Corporation by 22.1% in the 2nd quarter. Toronto Dominion Bank now owns 50,534 shares of the industrial products company’s stock worth $8,077,000 after acquiring an additional 9,147 shares in the last quarter. Advisory Services Network LLC lifted its stake in Parker-Hannifin Corporation by 145.6% in the 2nd quarter. Advisory Services Network LLC now owns 1,191 shares of the industrial products company’s stock worth $190,000 after acquiring an additional 706 shares in the last quarter. Finally, Koch Industries Inc. purchased a new stake in Parker-Hannifin Corporation in the 2nd quarter worth about $521,000. 80.24% of the stock is owned by hedge funds and other institutional investors.
Parker-Hannifin Corporation (PH) traded up 1.05% during midday trading on Friday, hitting $169.69. 1,142,292 shares of the stock were exchanged. The firm has a 50-day moving average price of $161.07 and a 200-day moving average price of $159.70. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $170.67. The stock has a market cap of $22.59 billion, a P/E ratio of 23.41 and a beta of 1.41.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.31 by $0.14. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. On average, equities research analysts anticipate that Parker-Hannifin Corporation will post $9.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.56%. The ex-dividend date was Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio is currently 36.51%.
About Parker-Hannifin Corporation
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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