Parker-Hannifin (NYSE:PH) Receives Buy Rating from Truist Financial

Truist Financial reaffirmed their buy rating on shares of Parker-Hannifin (NYSE:PH) in a research note issued to investors on Friday morning,Benzinga reports. They currently have a $977.00 target price on the industrial products company’s stock, up from their prior target price of $910.00.

Other research analysts have also issued research reports about the company. Evercore ISI reiterated an “outperform” rating on shares of Parker-Hannifin in a research report on Tuesday, August 19th. Barclays increased their price target on Parker-Hannifin from $785.00 to $906.00 and gave the company an “overweight” rating in a report on Friday. Deutsche Bank Aktiengesellschaft lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $809.00 price objective for the company. in a research note on Thursday, September 4th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Wednesday, October 8th. Finally, Stifel Nicolaus cut their price target on shares of Parker-Hannifin from $726.00 to $723.00 and set a “hold” rating on the stock in a report on Monday, October 20th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $822.76.

Parker-Hannifin Price Performance

NYSE PH traded up $9.74 during trading on Friday, hitting $843.89. 975,444 shares of the stock traded hands, compared to its average volume of 707,783. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. Parker-Hannifin has a 12-month low of $488.45 and a 12-month high of $851.86. The firm has a 50-day simple moving average of $758.48 and a 200-day simple moving average of $712.46. The company has a market capitalization of $106.79 billion, a P/E ratio of 31.12, a price-to-earnings-growth ratio of 3.21 and a beta of 1.37.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, November 6th. The industrial products company reported $7.22 EPS for the quarter, beating analysts’ consensus estimates of $6.62 by $0.60. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.94 billion. During the same period in the prior year, the company earned $6.20 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 29.600-30.400 EPS. FY 2026 guidance at 29.600-30.400 EPS. As a group, analysts predict that Parker-Hannifin will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Friday, November 7th will be issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.55%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, EVP Joseph R. Leonti sold 4,625 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $750.84, for a total value of $3,472,635.00. Following the sale, the executive vice president directly owned 13,878 shares of the company’s stock, valued at approximately $10,420,157.52. This represents a 25.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Parker-Hannifin

A number of hedge funds have recently modified their holdings of PH. Vanguard Group Inc. boosted its position in Parker-Hannifin by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock worth $7,770,646,000 after purchasing an additional 101,476 shares in the last quarter. Procyon Advisors LLC lifted its stake 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. Price T Rowe Associates Inc. MD grew its position in Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock valued at $1,485,042,000 after buying an additional 842,262 shares during the period. Invesco Ltd. increased its holdings in Parker-Hannifin by 1.8% in the second quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock valued at $1,638,556,000 after buying an additional 41,221 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Parker-Hannifin by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 2,194,687 shares of the industrial products company’s stock worth $1,533,177,000 after acquiring an additional 92,913 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

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.