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How to Buy Parker Hannifin Stock

Parker Hannifin Corp

Parker Hannifin is a specialty industrial machinery company located in Ohio, United States, which is part of the Industrials sector, and is traded under the ticker PH on the NYSE exchange.

Parker Hannifin stock last closed at $558.05, up 1.62% from the previous day, and has increased 71.89% in one year. It has overperformed other stocks in the Specialty Industrial Machinery industry by 0.38 percentage points. Parker Hannifin stock is currently +81.03% from its 52-week low of $308.26, and -0.55% from its 52-week high of $561.13.

There are currently 128.41M PH shares outstanding. The market cap of PH is $71.66B. In the past 24 hours, 516,221 PH shares were traded.

How to Buy Parker Hannifin Stock

Not sure how to invest in Parker Hannifin stock? Here's how.
  1. Figure out where to buy Parker Hannifin stock: You need to pick an online brokerage, but don't worry - we've researched dozens of online stock brokerages and apps to help you decide where to buy Parker Hannifin stock.
  2. Create your brokerage account: Sign up for 0% commission trading with the highest-rated brokerage we've identified.
  3. Fund your investment account: Pick your payment method and add your details.
  4. Analyze Parker Hannifin stock: The Parker Hannifin ticker symbol is PH. Is Parker Hannifin stock a good investment? Should you buy shares of PH? How do PH's underlying business fundamentals look? Do top analysts think Parker Hannifin is a good buy? Why has PH's stock price moved recently? (Hint: Our stock market analysis tools can help you evaluate if PH is a good stock to buy).
  5. Execute your PH trade: Decide if you will purchase PH shares at the current market price or use a limit order to buy PH shares at a given price.
  6. Keep tabs on your PH position: Create a watchlist to keep tabs on your new investment in Parker Hannifin shares.

Step 1: Figure out where to buy Parker Hannifin stock

You need a brokerage account to access the NYSE market and buy PH stock.

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Step 2: Create your brokerage account

Now that you've selected the right brokerage, you'll need to fill out some personal details so you are able to invest in PH today.

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Step 3: Fund your investment account

Now that you've finished signing up on the best stock market app for beginners, you need to deposit funds:

Watch the tutorial below to see the process of depositing money into your new investment account.

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Step 4: Analyze Parker Hannifin stock

Once you have identified the best place to buy Parker Hannifin stock, it's very important to research their stock before you invest, so you truly wrap your head around the risk and upside.

Parker Hannifin Metrics

PH Price
$558.05
1w %
2.12%
1y %
71.89%
5y %
234.96%
P/E
27.21x
P/B
6.34x
P/S
3.61x
PEG
N/A
Revenue
$19.83B
Earnings
$2.63B
Fore. Rev. Growth
2.92%
Fore. Earn. Growth
-0.62%
Market Cap
$71.66B
Next Earnings
May 2, 2024
Next Dividend
N/A

PH Fundamentals

WallStreetZen was built to help everyday investors do more in-depth fundamental analysis quickly.

You can view all of the due diligence checks on PH's stock page.

Is PH stock undervalued or overvalued?

Analysts use a variety of different financial metrics, analyses, models, and charts to gauge PH's intrinsic value.

Using relative valuations methods:

  • PH could be undervalued based on its P/E ratio of 27.21x, relative to Specialty Industrial Machinery industry P/E ratio of 27.63x
  • PH may be overvalued based on its P/B ratio of 6.34x, relative to Specialty Industrial Machinery industry P/B ratio of 5.38x

You can access additional valuation research on PH's stock here.

Is PH a healthy company?

Positive Health Checks:

  • PH's operating cash flow of $3.26B allows it to safely service it's debt of $11.79B.
  • Total PH debt is lower than 5 years ago, relative to shareholder equity.
  • PH earnings of $3.92B is not sufficient to cover its interest payments.
  • PH profit margin has gone up from 7.3% to 13.3% in the past year.

Negative Health Checks:

  • There are more short-term liabilities than short-term assets on the PH balance sheet.
  • There are more long-term liabilities than short-term assets on the PH balance sheet.
  • PH has a relatively high debt to equity ratio of 1.63.

Is it a good time to buy PH stock, according to analysts?

Out of 10 sell side analysts who give recommendations on PH, the consensus analyst rating on Parker Hannifin is a Strong Buy

It's important to keep in mind that analyst forecasts are not recommendations, nor are they investment advice.

Most Recent PH Analyst Upgrades/Downgrades

Jeffrey Hammond, a top 7% analyst from KeyBanc maintains PH with a strong buy rating and raises their PH price target from $500.00 to $575.00, on Feb 2, 2024.

KeyBanc's Jeffrey Hammond raised their price target on Parker Hannifin (NYSE: PH) by 15% from $500 to $575 on 2024/02/02. The analyst maintained their Strong Buy rating on the stock.

After reviewing Parker Hannifin's (2024/02/01-dated) Q2 2024 print, the analyst said they were "impressed by the apparent strength in Aerospace and strong margin execution amid a choppy Industrial backdrop."

Earnings Report

For Q2 2024, Parker-Hannifin reported:

  • EPS of $6.15, which beat the Zacks Consensus Estimate of $5.24 and, by 29%, Q2 2023’s $4.76.
  • Revenues of $4.82B, which was roughly in line with the Zacks Consensus Estimate and beat Q2 2023’s $4.67B by 3.2%.

Management guided for FY 2024:

  • EPS of $23.90 to $24.50.
  • Sales growth of 3% to 5%.

Chairman & Chief Executive Officer Jenny Parmentier commented: “We continue to produce exceptional results that reflect the strength of our portfolio and our ability to execute at a high level, underpinned by our business system, The Win Strategy™.”

“Our adjusted operating margin increased by 300 bps Y/Y, as we saw meaningful margin improvement in every segment.

“Strong aerospace and defense results, including synergies from the Meggitt acquisition, were a key driver of performance in the quarter.

“We are increasing our outlook for FY 2024 and expect another year of record performance. 

“We will continue to stay focused on executing the Win Strategy and leveraging the growth in aerospace markets.”

Joe Ritchie, a top 8% analyst from Goldman Sachs maintains PH with a strong buy rating and maintains their PH price target from $551.00 to $551.00, on Jan 2, 2024.

Joe O'Dea, a top 18% analyst from Wells Fargo maintains PH with a strong buy rating and raises their PH price target from $450.00 to $510.00, on Dec 19, 2023.

Nicole Deblase, a top 4% analyst from Deutsche Bank upgrades PH to a strong buy rating and raises their PH price target from $462.00 to $506.00, on Nov 9, 2023.

Andrew Obin, a top 13% analyst from Bank of America upgrades PH to a strong buy rating and raises their PH price target from $435.00 to $475.00, on Oct 5, 2023.

You can dig deeper into what analysts are projecting on the Parker Hannifin stock forecast page.

PH Trading Indicators

SMA10
546.65
SMA20
541.26
SMA50
517.21
SMA100
478.56
SMA200
436.11
MACD
10.13
MACD Signal
10.02
MACD Histogram
0.1
RSI
69.04
Stochastic %K
74.19
Stochastic %D
76.17
StochRSI %K
22.92
StochRSI %D
35.27

PH Earnings

Last year, PH earnings were $2.63B. During the past 5 year, PH's earnings have grown by 14.03% per year. This was slower than the Specialty Industrial Machinery industry average of 25.83%.

Last year, PH revenue was $19.83B. During the past 5 year, PH's revenue has grown by 6.43% per year. This was faster than the Specialty Industrial Machinery industry average of 3.55%.

You can research PH's earnings and revenue performance here.

Latest Insiders Trades at PH

Over the past year, insiders at PH have sold more shares than they have bought.

Rachid Bendali, VP Pres.- Eng. Mat. Grp. of PH, was the latest PH insider to sell. They sold $122,146.10 worth of PH shares on Feb 24, 2024.

Get more info about who owns PH stock here.

Can I get consistent income from PH stock?

Parker Hannifin pays a dividend of 1.06%, compared to the Specialty Industrial Machinery industry's average dividend yield of 1.24%. If you owned $1,000 worth of PH stock, you would have received $10.61 last year.

Parker Hannifin dividend payments have consistently grown over the past decade and have remained stable.

Get more data about Parker Hannifin dividend yield and history here.

PH Social Trading Data

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Step 5: Execute your PH trade

You have two main types of orders:

  • Market order: A market order is an order to buy or sell a stock at the best available price.
    Market orders are generally the best for newer investors.
  • Limit order: A limit order is an order to buy or sell a stock at a specific price (or better).
    If you want to make sure you're buying or selling at a specific dollar amount limit, place a limit order.

Press the Open button and your broker will place your order.

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Step 6: Keep tabs on your PH position

Now that you own some shares in PH, you'll want to keep up with your new investment.

Start a watchlist to get notified of the latest news about your PH stock.

PH Feed

How to Buy Stock in Parker Hannifin

To reiterate, here are the 6 steps for buying Parker Hannifin stock:

  1. Figure out where to buy Parker Hannifin stock
  2. Create your brokerage account
  3. Fund your investment account
  4. Analyze Parker Hannifin stock
  5. Execute your PH trade
  6. Keep tabs on your PH position

If you require a brokerage, eToro is our favorite option.

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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

If you would like to monitor your investment in Parker Hannifin, get started below.

NYSE: PH
$558.05+8.89 (+1.62%)
Updated Mar 27, 2024
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NYSE: PH
$558.05+8.89 (+1.62%)
Updated Mar 27, 2024
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FAQ

How much does it cost to buy one Parker Hannifin share?

As of Mar 27, 2024, it costs $558.05 to buy one share of Parker Hannifin stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $100, you can buy 0.179 shares of PH.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Is now a good time to buy Parker Hannifin stock?

According to 10 Wall Street analysts who monitor Parker Hannifin, their consensus recommendation is to buy Parker Hannifin stock.

What is the best way to buy Parker Hannifin stock?

One way to place an order for Parker Hannifin stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.