Parker-Hannifin Co. (NYSE:PH) Given Consensus Recommendation of “Buy” by Analysts
Shares of Parker-Hannifin Co. (NYSE:PH) have received a consensus recommendation of “Buy” from the sixteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $319.50.
PH has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Parker-Hannifin from $350.00 to $355.00 and gave the stock an “overweight” rating in a research report on Monday, April 19th. Barclays lifted their price objective on Parker-Hannifin from $330.00 to $340.00 and gave the stock an “overweight” rating in a research note on Monday. Vertical Research raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Monday, February 22nd. Zacks Investment Research downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $331.00 price objective for the company. in a research note on Tuesday, March 16th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on shares of Parker-Hannifin from $305.00 to $340.00 in a research note on Tuesday, March 16th.
In related news, VP Andrew M. Weeks sold 3,996 shares of Parker-Hannifin stock in a transaction on Friday, April 30th. The stock was sold at an average price of $312.72, for a total transaction of $1,249,629.12. Following the completion of the sale, the vice president now owns 6,857 shares of the company’s stock, valued at $2,144,321.04. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Linda S. Harty sold 7,719 shares of the business’s stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $311.69, for a total value of $2,405,935.11. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,565 shares of company stock worth $3,912,596. 1.47% of the stock is currently owned by company insiders.
PH traded up $2.43 on Tuesday, reaching $313.81. 20,853 shares of the stock were exchanged, compared to its average volume of 915,169. The company’s 50-day moving average price is $316.13 and its 200 day moving average price is $279.67. Parker-Hannifin has a fifty-two week low of $140.01 and a fifty-two week high of $323.80. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.46 and a quick ratio of 0.92. The firm has a market capitalization of $40.51 billion, a PE ratio of 34.26, a PEG ratio of 1.97 and a beta of 1.74.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, April 29th. The industrial products company reported $4.11 earnings per share for the quarter, beating the consensus estimate of $3.78 by $0.33. Parker-Hannifin had a return on equity of 22.77% and a net margin of 8.75%. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the business posted $2.92 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts forecast that Parker-Hannifin will post 12.37 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 4th. Stockholders of record on Friday, May 7th will be paid a $1.03 dividend. The ex-dividend date of this dividend is Thursday, May 6th. This represents a $4.12 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.88. Parker-Hannifin’s dividend payout ratio (DPR) is 32.62%.
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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
Read More: Hold Rating
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