Parker-Hannifin (NYSE:PH) Coverage Initiated at UBS Group

UBS Group started coverage on shares of Parker-Hannifin (NYSE:PH) in a research note issued to investors on Wednesday morning, MarketBeat reports. The firm issued a buy rating and a $842.00 price target on the industrial products company’s stock.

A number of other brokerages have also commented on PH. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial lifted their price objective on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. TD Cowen upped their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday. Wells Fargo & Company lifted their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Barclays boosted their target price on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $688.07.

Parker-Hannifin Price Performance

Shares of PH stock traded down $5.71 during midday trading on Wednesday, reaching $700.75. 21,215 shares of the company traded hands, compared to its average volume of 643,317. Parker-Hannifin has a 1-year low of $425.20 and a 1-year high of $711.60. The firm has a market cap of $90.20 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. The firm’s 50 day simple moving average is $631.19 and its two-hundred day simple moving average is $573.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the company earned $5.96 EPS. Parker-Hannifin’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities research analysts expect that Parker-Hannifin will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,927 shares of company stock valued at $12,807,811 over the last 90 days. 0.39% of the stock is owned by company insiders.

Institutional Trading of Parker-Hannifin

Several large investors have recently made changes to their positions in PH. CVA Family Office LLC boosted its position in Parker-Hannifin by 3.9% during the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock worth $269,000 after buying an additional 16 shares during the period. Sonoma Private Wealth LLC boosted its holdings in Parker-Hannifin by 2.9% in the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 19 shares in the last quarter. W Advisors LLC grew its position in Parker-Hannifin by 3.4% in the 3rd quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 19 shares during the period. Simmons Bank raised its holdings in shares of Parker-Hannifin by 0.7% in the 3rd quarter. Simmons Bank now owns 2,753 shares of the industrial products company’s stock worth $1,739,000 after acquiring an additional 19 shares during the last quarter. Finally, CFS Investment Advisory Services LLC raised its stake in shares of Parker-Hannifin by 3.4% in the third quarter. CFS Investment Advisory Services LLC now owns 583 shares of the industrial products company’s stock worth $368,000 after purchasing an additional 19 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

About Parker-Hannifin

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.