Parker-Hannifin Corp (NYSE:PH) has been given a consensus recommendation of “Buy” by the twenty ratings firms that are currently covering the stock. Four equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $159.53.
A number of research analysts recently commented on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $145.00 price target on shares of Parker-Hannifin Corp in a research note on Friday, March 17th. Cowen and Company upped their price target on shares of Parker-Hannifin Corp from $110.00 to $140.00 and gave the company a “market perform” rating in a research note on Monday, March 13th. Goldman Sachs Group Inc assumed coverage on shares of Parker-Hannifin Corp in a research note on Monday, March 13th. They issued a “buy” rating and a $180.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price target on shares of Parker-Hannifin Corp in a research note on Thursday, March 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Parker-Hannifin Corp from a “neutral” rating to an “overweight” rating and set a $173.00 price target on the stock in a research note on Wednesday, February 22nd.
Shares of Parker-Hannifin Corp (NYSE:PH) opened at 155.65 on Thursday. Parker-Hannifin Corp has a 12-month low of $99.10 and a 12-month high of $160.23. The firm has a market cap of $20.75 billion, a price-to-earnings ratio of 24.01 and a beta of 1.28. The stock’s 50 day moving average is $155.38 and its 200 day moving average is $139.40.
Parker-Hannifin Corp (NYSE:PH) last released its quarterly earnings data on Thursday, February 2nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.52. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. Parker-Hannifin Corp had a net margin of 7.86% and a return on equity of 20.08%. Parker-Hannifin Corp’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. Equities analysts expect that Parker-Hannifin Corp will post $7.45 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Friday, February 10th were issued a $0.66 dividend. The ex-dividend date of this dividend was Wednesday, February 8th. This represents a $2.64 dividend on an annualized basis and a yield of 1.70%. This is an increase from Parker-Hannifin Corp’s previous quarterly dividend of $0.63. Parker-Hannifin Corp’s payout ratio is currently 40.80%.
In other Parker-Hannifin Corp news, Director Klaus Peter Muller acquired 1,000 shares of the business’s stock in a transaction on Friday, March 10th. The stock was purchased at an average price of $157.75 per share, with a total value of $157,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Lee C. Banks sold 9,593 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $157.25, for a total transaction of $1,508,499.25. Following the completion of the sale, the chief operating officer now directly owns 81,817 shares of the company’s stock, valued at approximately $12,865,723.25. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock valued at $3,725,432 in the last three months. Insiders own 2.73% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Parker-Hannifin Corp during the third quarter worth $105,000. Bronfman E.L. Rothschild L.P. increased its stake in shares of Parker-Hannifin Corp by 236.7% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,155 shares of the company’s stock worth $145,000 after buying an additional 812 shares during the period. Cornerstone Advisors Inc. increased its stake in shares of Parker-Hannifin Corp by 398.7% in the third quarter. Cornerstone Advisors Inc. now owns 1,182 shares of the company’s stock worth $148,000 after buying an additional 945 shares during the period. Massey Quick & Co. LLC purchased a new stake in shares of Parker-Hannifin Corp during the fourth quarter worth $168,000. Finally, Global X Management Co. LLC increased its stake in shares of Parker-Hannifin Corp by 133.1% in the third quarter. Global X Management Co. LLC now owns 1,226 shares of the company’s stock worth $154,000 after buying an additional 700 shares during the period. 82.72% of the stock is owned by hedge funds and other institutional investors.
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About Parker-Hannifin Corp
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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