Parker-Hannifin Corporation (NYSE:PH) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Parker-Hannifin Corporation (NYSE:PH) has been given a consensus rating of “Moderate Buy” by the nineteen analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $1,119.55.

A number of research firms have recently issued reports on PH. KeyCorp increased their price objective on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Wells Fargo & Company initiated coverage on shares of Parker-Hannifin in a research report on Thursday, September 24th. They issued an “equal weight” rating and a $1,050.00 price objective for the company. Stifel Nicolaus set a $1,075.00 price target on Parker-Hannifin in a research report on Friday, August 7th. UBS Group upped their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Wall Street Zen downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd.

Parker-Hannifin Trading Up 1.0%

Shares of PH opened at $985.16 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The firm has a market capitalization of $124.24 billion, a price-to-earnings ratio of 34.58, a PEG ratio of 2.99 and a beta of 1.12. The company has a 50-day moving average of $987.62 and a 200 day moving average of $947.37. Parker-Hannifin has a 1-year low of $715.37 and a 1-year high of $1,099.94.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the business posted $7.69 EPS. Parker-Hannifin’s quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, research analysts expect that Parker-Hannifin will post 35.02 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were given a dividend of $2.00 per share. The ex-dividend date was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is 28.08%.

Insider Buying and Selling

In other news, VP Berend Bracht sold 602 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PH. Iowa State Bank acquired a new position in Parker-Hannifin in the 3rd quarter valued at $1,275,000. Eastern Bank boosted its holdings in Parker-Hannifin by 0.4% in the 3rd quarter. Eastern Bank now owns 40,624 shares of the industrial products company’s stock valued at $38,813,000 after purchasing an additional 153 shares during the last quarter. Rockland Trust Co. grew its position in Parker-Hannifin by 18.5% in the third quarter. Rockland Trust Co. now owns 263 shares of the industrial products company’s stock worth $251,000 after acquiring an additional 41 shares during the period. Polaris Financial Partners acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $26,000. Finally, CX Institutional raised its stake in shares of Parker-Hannifin by 159.9% in the 3rd quarter. CX Institutional now owns 11,886 shares of the industrial products company’s stock valued at $11,356,000 after acquiring an additional 7,312 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.