Parker-Hannifin Corp (PH) Receives Average Rating of “Hold” from Brokerages

Parker-Hannifin Corp (NYSE:PH) has been assigned a consensus recommendation of “Hold” from the twenty-two ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $183.20.

Several research firms recently weighed in on PH. Citigroup increased their price target on Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Stifel Nicolaus increased their price target on Parker-Hannifin from $171.00 to $182.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Morgan Stanley set a $179.00 price target on Parker-Hannifin and gave the company a “hold” rating in a report on Friday, May 3rd. Robert W. Baird set a $170.00 price target on Parker-Hannifin and gave the company a “buy” rating in a report on Friday, January 25th. Finally, Zacks Investment Research upgraded Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd.

Shares of PH traded down $0.41 during mid-day trading on Friday, hitting $166.49. 10,042 shares of the stock were exchanged, compared to its average volume of 958,147. The stock has a market capitalization of $21.27 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46. Parker-Hannifin has a 52-week low of $140.82 and a 52-week high of $193.19. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.07.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.16. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. The business had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the prior year, the firm earned $2.80 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that Parker-Hannifin will post 11.66 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 10th will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $0.76. Parker-Hannifin’s dividend payout ratio is 33.78%.

In other Parker-Hannifin news, VP Roger S. Sherrard sold 2,040 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $171.80, for a total value of $350,472.00. Following the transaction, the vice president now owns 62,620 shares of the company’s stock, valued at approximately $10,758,116. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Todd M. Leombruno sold 784 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $177.55, for a total value of $139,199.20. Following the completion of the transaction, the vice president now directly owns 2,913 shares in the company, valued at approximately $517,203.15. The disclosure for this sale can be found here. Insiders sold a total of 8,644 shares of company stock worth $1,513,697 in the last ninety days. 1.12% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Dubuque Bank & Trust Co. grew its position in shares of Parker-Hannifin by 97.5% during the 1st quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock worth $27,000 after buying an additional 78 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth $26,000. First Mercantile Trust Co. lifted its stake in shares of Parker-Hannifin by 58.3% during the 4th quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 70 shares during the last quarter. Trustcore Financial Services LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth $34,000. Finally, Gemmer Asset Management LLC lifted its stake in shares of Parker-Hannifin by 162.3% during the 1st quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 125 shares during the last quarter. 81.32% of the stock is currently owned by institutional investors and hedge funds.

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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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