Parker-Hannifin Corp (PH) Receives Consensus Rating of “Buy” from Brokerages

Parker-Hannifin Corp (NYSE:PH) has been assigned a consensus recommendation of “Buy” from the twenty-three ratings firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $188.95.

PH has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $198.00 price target on the stock in a report on Tuesday, October 10th. Stifel Nicolaus set a $198.00 price target on shares of Parker-Hannifin and gave the company a “buy” rating in a report on Friday, August 4th. ValuEngine upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Friday, September 1st. KeyCorp restated a “buy” rating and issued a $200.00 price target on shares of Parker-Hannifin in a report on Thursday, October 12th. Finally, Buckingham Research initiated coverage on shares of Parker-Hannifin in a report on Tuesday, October 17th. They issued a “buy” rating and a $205.00 price target on the stock.

Parker-Hannifin (PH) traded up $3.17 during trading hours on Thursday, hitting $187.49. 778,977 shares of the stock were exchanged, compared to its average volume of 996,227. Parker-Hannifin has a twelve month low of $134.03 and a twelve month high of $189.83. The company has a market cap of $24,744.08, a PE ratio of 21.32, a P/E/G ratio of 1.67 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.22. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The business had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period last year, the business earned $1.61 EPS. The company’s revenue was up 22.7% compared to the same quarter last year. equities analysts expect that Parker-Hannifin will post 9.56 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, November 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 33.93%.

In other Parker-Hannifin news, Director Linda S. Harty sold 3,491 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $183.30, for a total transaction of $639,900.30. Following the completion of the transaction, the director now directly owns 9,727 shares of the company’s stock, valued at approximately $1,782,959.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Lee C. Banks sold 5,286 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $186.38, for a total transaction of $985,204.68. Following the transaction, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at $21,025,155.04. The disclosure for this sale can be found here. Insiders sold a total of 24,728 shares of company stock valued at $4,436,207 over the last quarter. 1.12% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bronfman E.L. Rothschild L.P. raised its position in Parker-Hannifin by 1.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,306 shares of the industrial products company’s stock worth $209,000 after buying an additional 15 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 20 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Parker-Hannifin by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 24 shares in the last quarter. People s United Financial Inc. increased its holdings in shares of Parker-Hannifin by 0.5% during the 2nd quarter. People s United Financial Inc. now owns 6,079 shares of the industrial products company’s stock valued at $972,000 after purchasing an additional 31 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 0.4% during the 2nd quarter. Calamos Wealth Management LLC now owns 8,144 shares of the industrial products company’s stock valued at $1,302,000 after purchasing an additional 34 shares in the last quarter. 78.26% of the stock is owned by institutional investors.

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Parker-Hannifin Company Profile

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.

Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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