Parker-Hannifin (NYSE:PH) Upgraded to Buy at Wall Street Zen

by · The Markets Daily

Wall Street Zen upgraded shares of Parker-Hannifin (NYSE:PH – Free Report) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

PH has been the subject of a number of other reports. Evercore lifted their price target on shares of Parker-Hannifin from $1,064.00 to $1,217.00 and gave the company an “outperform” rating in a research report on Tuesday, August 11th. Truist Financial raised their price target on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. Argus raised their target price on Parker-Hannifin from $1,030.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. BNP Paribas Exane lifted their price target on shares of Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an “outperform” rating in a research note on Friday, September 18th. Finally, Susquehanna raised their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,146.35.

View Our Latest Analysis on Parker-Hannifin

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $880.03 on Friday. The company’s fifty day moving average price is $966.89 and its 200-day moving average price is $951.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The firm has a market capitalization of $110.98 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.45 and a beta of 1.12. Parker-Hannifin has a one year low of $755.10 and a one year high of $1,099.94.

Parker-Hannifin (NYSE:PH – Get Free Report) last released its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. Parker-Hannifin’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities research analysts anticipate that Parker-Hannifin will post 35.72 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Monday, August 31st were paid a $2.00 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $8.00 annualized dividend and a yield of 0.9%. Parker-Hannifin’s dividend payout ratio is 28.08%.

Insider Activity

In other news, VP Berend Bracht sold 602 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the transaction, the vice president owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

Institutional investors have recently bought and sold shares of the business. Polaris Financial Partners purchased a new position in Parker-Hannifin in the third quarter valued at about $26,000. Archer Investment Corp purchased a new position in shares of Parker-Hannifin in the second quarter worth about $28,000. Pension & Wealth Management Advisors Inc. acquired a new stake in Parker-Hannifin during the 3rd quarter worth about $30,000. NFSG Corp grew its stake in shares of Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 17 shares during the period. Finally, Bell Investment Advisors Inc purchased a new position in shares of Parker-Hannifin in the 2nd quarter valued at about $35,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

About Parker-Hannifin

(Get Free Report)

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.

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