Shares of Parker-Hannifin Co. (NYSE:PH – Get Free Report) have earned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $569.06.
A number of research analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a report on Monday, May 6th. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price objective for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. Barclays reduced their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Argus lifted their price target on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Finally, KeyCorp lifted their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th.
View Our Latest Report on Parker-Hannifin
Insider Transactions at Parker-Hannifin
Hedge Funds Weigh In On Parker-Hannifin
Several hedge funds and other institutional investors have recently modified their holdings of the company. Sachetta LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $26,000. First United Bank & Trust purchased a new stake in Parker-Hannifin during the 4th quarter worth approximately $29,000. Harbor Investment Advisory LLC increased its holdings in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $30,000. 82.44% of the stock is owned by institutional investors and hedge funds.
Parker-Hannifin Price Performance
Shares of NYSE PH opened at $505.81 on Thursday. The stock has a market capitalization of $65.02 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 2.02 and a beta of 1.46. Parker-Hannifin has a 12 month low of $362.49 and a 12 month high of $570.15. The firm’s 50 day simple moving average is $531.05 and its 200-day simple moving average is $515.68. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50.
Parker-Hannifin (NYSE:PH – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter last year, the company earned $5.93 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts expect that Parker-Hannifin will post 24.85 EPS for the current year.
Parker-Hannifin Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were paid a $1.63 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a yield of 1.29%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s payout ratio is currently 30.73%.
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.
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