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

Parker-Hannifin Corporation (NYSE:PH) has received an average rating of “Moderate Buy” from the twenty-one research firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $990.4737.

A number of research analysts have commented on PH shares. KeyCorp reaffirmed an “overweight” rating and set a $1,100.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Morgan Stanley reaffirmed a “positive” rating on shares of Parker-Hannifin in a research note on Wednesday, January 14th. Wells Fargo & Company increased their price target on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Citigroup lifted their price objective on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Susquehanna reiterated a “positive” rating and set a $1,000.00 price objective on shares of Parker-Hannifin in a research note on Wednesday, November 12th.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 1,457 shares of Parker-Hannifin stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the transaction, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,441,918.40. The trade was a 36.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the transaction, the chief operating officer owned 13,120 shares of the company’s stock, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 12,551 shares of company stock valued at $12,117,502. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Large investors have recently modified their holdings of the stock. Procyon Advisors LLC boosted its position in shares of Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the period. Norges Bank purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $1,756,230,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $185,532,000. Focus Partners Wealth increased its position in shares of Parker-Hannifin by 1,535.3% in the fourth quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company’s stock worth $194,106,000 after acquiring an additional 207,495 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Parker-Hannifin by 115.7% during the second quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock valued at $256,970,000 after acquiring an additional 197,317 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Performance

NYSE:PH opened at $1,001.30 on Tuesday. The firm’s fifty day simple moving average is $923.06 and its 200 day simple moving average is $827.10. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin has a twelve month low of $488.45 and a twelve month high of $1,012.49. The firm has a market capitalization of $126.38 billion, a price-to-earnings ratio of 36.52, a PEG ratio of 3.23 and a beta of 1.25.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating the consensus estimate of $7.11 by $0.54. The business had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the business posted $6.53 EPS. As a group, equities research analysts expect that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be issued a $1.80 dividend. The ex-dividend date is Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio is 26.26%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.