Parker-Hannifin (NYSE:PH) Receives “Buy” Rating from Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Parker-Hannifin (NYSE:PH) in a research report released on Tuesday, Benzinga reports. Stifel Nicolaus currently has a $629.00 price objective on the industrial products company’s stock.

Several other research analysts have also commented on PH. Wells Fargo & Company cut their price objective on Parker-Hannifin from $640.00 to $630.00 and set an overweight rating for the company in a report on Monday, May 6th. Truist Financial upped their price objective on shares of Parker-Hannifin from $611.00 to $621.00 and gave the company a buy rating in a research note on Tuesday. Mizuho upgraded shares of Parker-Hannifin from a neutral rating to a buy rating and boosted their price target for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Raymond James started coverage on shares of Parker-Hannifin in a report on Friday, June 28th. They set an outperform rating and a $610.00 target price for the company. Finally, Argus upped their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the company a buy rating in a research report on Monday, May 6th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $569.69.

Parker-Hannifin Stock Down 1.4 %

Parker-Hannifin stock opened at $505.50 on Tuesday. The company has a market capitalization of $64.98 billion, a P/E ratio of 23.82, a P/E/G ratio of 1.99 and a beta of 1.44. The firm has a 50 day moving average price of $528.06 and a 200-day moving average price of $516.86. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Parker-Hannifin has a twelve month low of $362.49 and a twelve month high of $570.15.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period in the previous year, the business earned $5.93 EPS. Parker-Hannifin’s revenue was up .3% compared to the same quarter last year. As a group, equities analysts predict that Parker-Hannifin will post 24.85 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were paid a $1.63 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.29%. Parker-Hannifin’s dividend payout ratio is 30.73%.

Insider Buying and Selling

In other news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently made changes to their positions in PH. Vanguard Group Inc. increased its holdings in shares of Parker-Hannifin by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock valued at $5,872,694,000 after acquiring an additional 105,475 shares during the period. Norges Bank acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at about $665,188,000. Alphinity Investment Management Pty Ltd lifted its stake in Parker-Hannifin by 42.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock valued at $521,861,000 after acquiring an additional 336,370 shares during the period. Boston Partners boosted its holdings in shares of Parker-Hannifin by 4.1% in the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after acquiring an additional 43,535 shares during the last quarter. Finally, Baird Financial Group Inc. increased its stake in shares of Parker-Hannifin by 3.7% in the fourth quarter. Baird Financial Group Inc. now owns 694,970 shares of the industrial products company’s stock worth $320,173,000 after acquiring an additional 25,060 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Company Profile

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.