Parker-Hannifin (NYSE:PH) Research Coverage Started at Citigroup

Citigroup assumed coverage on shares of Parker-Hannifin (NYSE:PH) in a research report sent to investors on Friday morning, Marketbeat.com reports. The firm issued a buy rating and a $795.00 target price on the industrial products company’s stock.

Several other equities analysts also recently commented on the company. Barclays cut their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. StockNews.com lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Truist Financial upped their price target on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, KeyCorp boosted their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $683.62 on Friday. The firm has a fifty day simple moving average of $665.57 and a two-hundred day simple moving average of $634.90. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $88.00 billion, a P/E ratio of 28.30, a PEG ratio of 2.84 and a beta of 1.45. Parker-Hannifin has a 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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%. On average, analysts expect that Parker-Hannifin will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given 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 yield of 0.95%. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Diversified Trust Co raised its holdings in Parker-Hannifin by 11.4% in the 3rd quarter. Diversified Trust Co now owns 978 shares of the industrial products company’s stock valued at $618,000 after acquiring an additional 100 shares during the last quarter. Atomi Financial Group Inc. increased its holdings in shares of Parker-Hannifin by 28.8% in the third quarter. Atomi Financial Group Inc. now owns 734 shares of the industrial products company’s stock valued at $464,000 after purchasing an additional 164 shares during the last quarter. Brookstone Capital Management lifted its position in Parker-Hannifin by 16.5% during the third quarter. Brookstone Capital Management now owns 5,294 shares of the industrial products company’s stock worth $3,345,000 after buying an additional 750 shares in the last quarter. CWM LLC boosted its stake in Parker-Hannifin by 8.6% during the third quarter. CWM LLC now owns 4,363 shares of the industrial products company’s stock worth $2,757,000 after buying an additional 346 shares during the last quarter. Finally, Wedmont Private Capital grew its holdings in Parker-Hannifin by 4.9% in the 3rd quarter. Wedmont Private Capital now owns 2,286 shares of the industrial products company’s stock valued at $1,440,000 after buying an additional 106 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

About Parker-Hannifin

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.