Parker-Hannifin (NYSE:PH) Sees Unusually-High Trading Volume – Should You Buy?

Parker-Hannifin Co. (NYSE:PH) saw an uptick in trading volume on Tuesday . 592,944 shares changed hands during trading, a decline of 4% from the previous session’s volume of 615,890 shares.The stock last traded at $619.52 and had previously closed at $650.56.

Wall Street Analyst Weigh In

A number of brokerages have commented on PH. Wells Fargo & Company lifted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Truist Financial raised their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Argus lifted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Finally, Jefferies Financial Group boosted their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $739.06.

Parker-Hannifin Stock Down 3.1 %

The company has a market cap of $81.12 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 2.85 and a beta of 1.45. The business has a fifty day moving average of $666.26 and a two-hundred day moving average of $650.05. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Hedge Funds Weigh In On Parker-Hannifin

Hedge funds and other institutional investors have recently made changes to their positions in the company. Siemens Fonds Invest GmbH raised its holdings in Parker-Hannifin by 581.1% in the 4th quarter. Siemens Fonds Invest GmbH now owns 11,068 shares of the industrial products company’s stock valued at $7,040,000 after acquiring an additional 9,443 shares during the last quarter. Park Square Financial Group LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $227,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $58,007,000. Brooklyn FI LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $636,000. Finally, REAP Financial Group LLC lifted its position in Parker-Hannifin by 129.4% during the fourth quarter. REAP Financial Group LLC now owns 117 shares of the industrial products company’s stock worth $74,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

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.