Parker-Hannifin (NYSE:PH) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Parker-Hannifin (NYSE:PH) from a hold rating to a buy rating in a research report report published on Saturday morning,Wall Street Zen reports.

Several other research firms have also recently issued reports on PH. BNP Paribas Exane raised their target price on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an “outperform” rating in a research note on Friday, September 18th. Raymond James Financial upped their price target on Parker-Hannifin from $1,050.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Monday, August 10th. Robert W. Baird increased their price objective on Parker-Hannifin from $1,050.00 to $1,275.00 in a report on Friday, August 7th. Argus lifted their price objective on Parker-Hannifin from $1,030.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Citigroup boosted their target price on Parker-Hannifin from $1,232.00 to $1,234.00 and gave the company a “buy” rating in a research note on Monday, October 12th. Eighteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,146.35.

Parker-Hannifin Trading Up 2.8%

NYSE:PH opened at $905.02 on Friday. The company has a fifty day moving average of $968.75 and a 200 day moving average of $949.97. Parker-Hannifin has a 52 week low of $755.10 and a 52 week high of $1,099.94. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $114.13 billion, a P/E ratio of 31.77, a P/E/G ratio of 2.45 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the firm earned $7.69 EPS. The company’s 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 predict that Parker-Hannifin will post 35.72 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Monday, August 31st were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.9%. Parker-Hannifin’s payout ratio is presently 28.08%.

Insider Activity

In related news, VP Berend Bracht sold 602 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the transaction, the vice president directly owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This represents 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 at this link. 0.35% of the stock is owned by corporate insiders.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ashton Thomas Securities LLC raised its holdings in Parker-Hannifin by 6.3% in the third quarter. Ashton Thomas Securities LLC now owns 1,284 shares of the industrial products company’s stock worth $1,227,000 after purchasing an additional 76 shares in the last quarter. Flagship Harbor Advisors LLC boosted its holdings in shares of Parker-Hannifin by 7.7% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 251 shares of the industrial products company’s stock valued at $239,000 after buying an additional 18 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of Parker-Hannifin by 3.4% during the 3rd quarter. Apollon Wealth Management LLC now owns 23,517 shares of the industrial products company’s stock valued at $22,468,000 after buying an additional 763 shares in the last quarter. Holos Integrated Wealth LLC grew its position in shares of Parker-Hannifin by 357.1% in the 3rd quarter. Holos Integrated Wealth LLC now owns 96 shares of the industrial products company’s stock worth $93,000 after buying an additional 75 shares during the period. Finally, Tower View Wealth Management LLC grew its position in shares of Parker-Hannifin by 31.2% in the 3rd quarter. Tower View Wealth Management LLC now owns 7,111 shares of the industrial products company’s stock worth $6,794,000 after buying an additional 1,692 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.