Parker-Hannifin Co. (NYSE:PH) Receives Average Rating of “Moderate Buy” from Analysts
Parker-Hannifin Co. (NYSE:PH – Get Free Report) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $452.86.
A number of brokerages recently commented on PH. Bank of America raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $435.00 to $475.00 in a research report on Thursday, October 5th. StockNews.com began coverage on shares of Parker-Hannifin in a research report on Thursday, October 5th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and boosted their price objective for the company from $462.00 to $506.00 in a research report on Thursday, November 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $500.00 price objective on shares of Parker-Hannifin in a research report on Monday, December 4th. Finally, Wells Fargo & Company decreased their target price on shares of Parker-Hannifin from $465.00 to $425.00 in a research report on Monday, October 9th.
Read Our Latest Analysis on PH
Insider Buying and Selling
In related news, Director Joseph Scaminace sold 1,660 shares of the company’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $409.91, for a total transaction of $680,450.60. Following the completion of the sale, the director now directly owns 5,487 shares of the company’s stock, valued at approximately $2,249,176.17. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.03% of the stock is owned by insiders.
Hedge Funds Weigh In On Parker-Hannifin
Large investors have recently bought and sold shares of the stock. Cetera Advisor Networks LLC raised its stake in shares of Parker-Hannifin by 8.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock valued at $425,000 after buying an additional 112 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Parker-Hannifin by 69.8% in the 1st quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock valued at $1,098,000 after buying an additional 1,591 shares in the last quarter. Prudential PLC acquired a new position in shares of Parker-Hannifin in the 1st quarter valued at $687,000. Moors & Cabot Inc. raised its stake in shares of Parker-Hannifin by 270.8% in the 1st quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock valued at $771,000 after buying an additional 1,985 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Parker-Hannifin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after buying an additional 190,889 shares in the last quarter. 82.25% of the stock is currently owned by institutional investors and hedge funds.
Parker-Hannifin Stock Up 1.1 %
PH stock opened at $438.63 on Friday. Parker-Hannifin has a 52-week low of $281.19 and a 52-week high of $443.91. The company’s 50 day simple moving average is $406.10 and its 200-day simple moving average is $394.66. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.89 and a quick ratio of 0.50. The firm has a market capitalization of $56.36 billion, a P/E ratio of 24.35, a P/E/G ratio of 1.59 and a beta of 1.50.
Parker-Hannifin (NYSE:PH – Get Free Report) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $5.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.33 by $0.63. Parker-Hannifin had a net margin of 11.92% and a return on equity of 29.56%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same quarter in the previous year, the business earned $4.74 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Parker-Hannifin will post 23.18 EPS for the current year.
Parker-Hannifin Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, November 13th were issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 1.35%. The ex-dividend date was Friday, November 10th. Parker-Hannifin’s dividend payout ratio is currently 32.87%.
About Parker-Hannifin (Get Free Report
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.
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