Brokerages Set Parker-Hannifin Co. (NYSE:PH) PT at $719.71

Shares of Parker-Hannifin Co. (NYSE:PH) have been given an average recommendation of “Moderate Buy” by the seventeen analysts that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $719.71.

PH has been the subject of a number of research reports. Truist Financial decreased their target price on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Morgan Stanley started coverage on Parker-Hannifin in a report on Thursday, June 5th. They set an “equal weight” rating and a $700.00 target price for the company. KeyCorp lifted their price target on Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Mizuho set a $785.00 price target on Parker-Hannifin in a research report on Friday, May 16th. Finally, Barclays reduced their price target on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research report on Thursday, April 10th.

Parker-Hannifin Price Performance

Shares of PH stock opened at $661.66 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market cap of $84.55 billion, a P/E ratio of 27.39, a PEG ratio of 2.85 and a beta of 1.34. The stock’s 50-day moving average is $631.16 and its 200 day moving average is $643.49. Parker-Hannifin has a 1-year low of $488.45 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $6.51 earnings per share. Research analysts predict that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a $1.80 dividend. The ex-dividend date was Friday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.09%. Parker-Hannifin’s payout ratio is currently 27.72%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Parker-Hannifin

Institutional investors have recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $25,000. Wealth Preservation Advisors LLC purchased a new stake in Parker-Hannifin during the 1st quarter valued at approximately $27,000. Millstone Evans Group LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at approximately $30,000. Finally, Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at approximately $32,000. 82.44% of the stock is owned by institutional investors and hedge funds.

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.