Parker-Hannifin Corporation (NYSE:PH) Stock Has Average Target Price of $1,146.35 According to Brokerages

Shares of Parker-Hannifin Corporation (NYSE:PH) have received an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $1,146.35.

Several equities analysts recently issued reports on PH shares. Deutsche Bank Aktiengesellschaft upped their target price on Parker-Hannifin from $998.00 to $1,023.00 and gave the company a “hold” rating in a research report on Wednesday, September 30th. Mizuho set a $1,200.00 price target on Parker-Hannifin in a research report on Thursday, October 15th. Jefferies Financial Group lifted their price target on Parker-Hannifin from $1,100.00 to $1,275.00 in a research report on Friday, August 7th. Susquehanna boosted their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research note on Friday, August 7th. Finally, UBS Group set a $950.00 price objective on Parker-Hannifin in a report on Wednesday, October 14th.

Parker-Hannifin Stock Down 3.2%

NYSE:PH opened at $898.73 on Friday. The company has a market cap of $113.34 billion, a PE ratio of 31.55, a P/E/G ratio of 2.51 and a beta of 1.12. Parker-Hannifin has a twelve month low of $755.10 and a twelve month high of $1,099.94. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $956.18 and its two-hundred day moving average is $949.73.

Parker-Hannifin (NYSE:PH) last posted 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 during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter last year, the company posted $7.69 earnings per share. The business’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. Analysts anticipate that Parker-Hannifin will post 35.72 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be given a $2.00 dividend. The ex-dividend date is Friday, November 13th. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin’s dividend payout ratio is currently 28.08%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

Institutional Trading of Parker-Hannifin

A number of hedge funds and other institutional investors have recently made changes to their positions in PH. BlackRock Inc. acquired a new position in Parker-Hannifin during the 2nd quarter worth approximately $10,163,362,000. State Street Corp increased its position in shares of Parker-Hannifin by 0.5% in the 2nd quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after purchasing an additional 42,548 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Parker-Hannifin in the 2nd quarter valued at $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Parker-Hannifin by 2.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock valued at $1,010,341,000 after purchasing an additional 25,167 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Parker-Hannifin in the 2nd quarter valued at $987,587,000. 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 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.