Parker-Hannifin (NYSE:PH) had its price objective raised by Wells Fargo & Co from $205.00 to $235.00 in a report published on Thursday, January 18th. Wells Fargo & Co currently has an outperform rating on the industrial products company’s stock.
A number of other research firms also recently commented on PH. Zacks Investment Research raised Parker-Hannifin from a hold rating to a buy rating and set a $236.00 target price for the company in a report on Thursday, January 18th. Stifel Nicolaus reaffirmed a buy rating and set a $245.00 target price (up previously from $218.00) on shares of Parker-Hannifin in a report on Tuesday, January 16th. Cowen reaffirmed a hold rating and set a $180.00 target price on shares of Parker-Hannifin in a report on Wednesday, January 10th. BMO Capital Markets boosted their price target on Parker-Hannifin to $225.00 and gave the company an outperform rating in a report on Thursday, January 4th. Finally, ValuEngine downgraded Parker-Hannifin from a buy rating to a hold rating in a report on Friday, December 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Parker-Hannifin presently has a consensus rating of Hold and an average target price of $200.83.
Shares of Parker-Hannifin (NYSE:PH) traded up $2.38 during midday trading on Thursday, reaching $176.89. The company’s stock had a trading volume of 2,084,464 shares, compared to its average volume of 1,269,673. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.99 and a current ratio of 1.49. The firm has a market capitalization of $23,534.86, a P/E ratio of 27.60, a PEG ratio of 1.53 and a beta of 1.31. Parker-Hannifin has a fifty-two week low of $149.05 and a fifty-two week high of $212.80.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.08. Parker-Hannifin had a return on equity of 23.15% and a net margin of 6.54%. The business had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the company earned $1.91 earnings per share. The company’s quarterly revenue was up 26.2% on a year-over-year basis. analysts expect that Parker-Hannifin will post 9.95 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Thursday, February 8th. Parker-Hannifin’s payout ratio is presently 41.19%.
In other news, VP Andrew D. Ross sold 2,056 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $192.14, for a total value of $395,039.84. Following the completion of the sale, the vice president now directly owns 5,207 shares in the company, valued at $1,000,472.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert W. Bond sold 5,517 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $181.72, for a total value of $1,002,549.24. Following the completion of the sale, the vice president now owns 28,265 shares of the company’s stock, valued at $5,136,315.80. The disclosure for this sale can be found here. Insiders sold 16,343 shares of company stock valued at $2,982,800 over the last 90 days. Company insiders own 1.12% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. IHT Wealth Management LLC increased its position in shares of Parker-Hannifin by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after buying an additional 20 shares in the last quarter. People s United Financial Inc. increased its position in shares of Parker-Hannifin by 0.5% during the second quarter. People s United Financial Inc. now owns 6,079 shares of the industrial products company’s stock worth $972,000 after purchasing an additional 31 shares in the last quarter. National Asset Management Inc. increased its position in shares of Parker-Hannifin by 4.7% during the second quarter. National Asset Management Inc. now owns 1,432 shares of the industrial products company’s stock worth $229,000 after purchasing an additional 64 shares in the last quarter. Suntrust Banks Inc. increased its position in shares of Parker-Hannifin by 0.8% during the second quarter. Suntrust Banks Inc. now owns 22,244 shares of the industrial products company’s stock worth $3,553,000 after purchasing an additional 172 shares in the last quarter. Finally, Logan Capital Management Inc. increased its position in shares of Parker-Hannifin by 14.8% during the second quarter. Logan Capital Management Inc. now owns 1,524 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 197 shares in the last quarter. Institutional investors and hedge funds own 78.39% of the company’s stock.
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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