Parker-Hannifin (NYSE:PH) Now Covered by Analysts at UBS Group

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

Other equities analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft raised their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Raymond James raised their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Evercore ISI raised their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Robert W. Baird raised their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Mizuho raised their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $688.07.

Parker-Hannifin Trading Up 0.2 %

PH traded up $1.28 during trading on Wednesday, reaching $698.91. The company had a trading volume of 530,753 shares, compared to its average volume of 645,390. The stock has a market cap of $89.96 billion, a P/E ratio of 31.57, a PEG ratio of 2.85 and a beta of 1.43. The business has a 50 day simple moving average of $636.19 and a 200-day simple moving average of $574.94. Parker-Hannifin has a 52 week low of $425.20 and a 52 week high of $711.60. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

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

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a dividend of $1.63 per share. 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 (DPR) is 29.45%.

Insider Buying and Selling

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock valued at $12,807,811 over the last quarter. 0.39% of the stock is currently owned by company insiders.

Institutional Trading of Parker-Hannifin

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of Parker-Hannifin by 1.2% during the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after purchasing an additional 29,408 shares in the last quarter. Prestige Wealth Management Group LLC increased its position in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Brophy Wealth Management LLC purchased a new stake in shares of Parker-Hannifin during the third quarter worth approximately $723,000. Continuum Advisory LLC increased its position in shares of Parker-Hannifin by 2.9% during the third quarter. Continuum Advisory LLC now owns 1,277 shares of the industrial products company’s stock worth $891,000 after purchasing an additional 36 shares in the last quarter. Finally, Geller Advisors LLC purchased a new stake in shares of Parker-Hannifin during the third quarter worth approximately $222,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

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.