Zacks Investment Research downgraded shares of Parker-Hannifin (NYSE:PH) from a buy rating to a hold rating in a research report released on Monday.
According to Zacks, “Parker-Hannifin boasts a robust earnings surprise history, having kept its earnings beat streak alive for 10 consecutive quarters. Going forward, the company expects to gain traction from improving demand, incremental savings from its realignment actions and its revamped Win Strategy. These initiatives have helped Parker-Hannifin offset weakness in some vital regions and in the Aerospace Systems segment as well. CLARCOR and Helac Corp. acquisitions are boosting the company’s filtration and Hydraulics units, respectively. However, prolonged sluggishness in the key natural resources markets is proving to be one of the major concerns for the company. Also, the company’s business realignment expenses remain a threat to its margins in the coming quarters. Parker-Hannifin’s shares have also underperformed the industry’s averagein the past six months.”
A number of other equities analysts have also commented on PH. Deutsche Bank boosted their price objective on shares of Parker-Hannifin to $200.00 and gave the stock a buy rating in a report on Monday, November 20th. ValuEngine lowered shares of Parker-Hannifin from a buy rating to a hold rating in a report on Friday, December 1st. BMO Capital Markets upped their target price on shares of Parker-Hannifin to $225.00 and gave the company an outperform rating in a research note on Thursday, January 4th. Cowen restated a hold rating and issued a $180.00 target price on shares of Parker-Hannifin in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus restated a buy rating and issued a $245.00 target price (up previously from $218.00) on shares of Parker-Hannifin in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $202.75.
Parker-Hannifin stock opened at $181.90 on Monday. Parker-Hannifin has a 1-year low of $151.17 and a 1-year high of $212.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 0.99. The company has a market cap of $24,309.29, a price-to-earnings ratio of 28.38, a price-to-earnings-growth ratio of 1.58 and a beta of 1.38.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.08. Parker-Hannifin had a net margin of 6.54% and a return on equity of 23.15%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the business posted $1.91 EPS. The firm’s revenue was up 26.2% compared to the same quarter last year. equities analysts expect that Parker-Hannifin will post 9.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 9th were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is presently 41.19%.
In related news, VP Roger S. Sherrard sold 2,109 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $182.12, for a total transaction of $384,091.08. Following the completion of the sale, the vice president now owns 51,865 shares of the company’s stock, valued at approximately $9,445,653.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Scaminace sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $184.97, for a total transaction of $184,970.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,258 shares of company stock valued at $780,753. Insiders own 1.12% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Sentry Investment Management LLC grew its position in shares of Parker-Hannifin by 0.8% during the 4th quarter. Sentry Investment Management LLC now owns 34,739 shares of the industrial products company’s stock valued at $6,933,000 after buying an additional 282 shares during the last quarter. Pacer Advisors Inc. grew its position in Parker-Hannifin by 10.1% in the 3rd quarter. Pacer Advisors Inc. now owns 3,412 shares of the industrial products company’s stock worth $597,000 after purchasing an additional 312 shares during the last quarter. San Francisco Sentry Investment Group CA grew its position in Parker-Hannifin by 139.3% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 579 shares of the industrial products company’s stock worth $116,000 after purchasing an additional 337 shares during the last quarter. FDx Advisors Inc. grew its position in Parker-Hannifin by 6.9% in the 4th quarter. FDx Advisors Inc. now owns 5,418 shares of the industrial products company’s stock worth $1,081,000 after purchasing an additional 349 shares during the last quarter. Finally, CIBC World Markets Inc. grew its position in Parker-Hannifin by 29.8% in the 4th quarter. CIBC World Markets Inc. now owns 1,642 shares of the industrial products company’s stock worth $328,000 after purchasing an additional 377 shares during the last quarter. 81.62% of the stock is owned by institutional investors and hedge funds.
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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