Buckingham Research Raises Parker-Hannifin Corporation (PH) Price Target to $210.00
Parker-Hannifin Corporation (NYSE:PH) had its price objective lifted by Buckingham Research from $205.00 to $210.00 in a report published on Friday morning. Buckingham Research currently has a buy rating on the industrial products company’s stock.
Other research analysts have also recently issued research reports about the company. BidaskClub cut Parker-Hannifin Corporation from a buy rating to a hold rating in a research report on Monday, July 24th. Stifel Nicolaus restated a buy rating and issued a $189.00 price target on shares of Parker-Hannifin Corporation in a research report on Friday, July 14th. Zacks Investment Research cut Parker-Hannifin Corporation from a buy rating to a hold rating in a research report on Tuesday, August 8th. Wolfe Research began coverage on Parker-Hannifin Corporation in a research report on Tuesday, July 11th. They issued an outperform rating and a $182.00 price target for the company. Finally, Robert W. Baird set a $163.00 price target on Parker-Hannifin Corporation and gave the company a hold rating in a research report on Thursday, August 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $188.37.
Parker-Hannifin Corporation (NYSE PH) opened at $185.38 on Friday. Parker-Hannifin Corporation has a 52-week low of $119.13 and a 52-week high of $189.83. The firm has a market capitalization of $24,692.63, a price-to-earnings ratio of 21.28, a PEG ratio of 1.70 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.22. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. The business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the business posted $1.61 earnings per share. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. sell-side analysts forecast that Parker-Hannifin Corporation will post 9.37 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, November 9th. Parker-Hannifin Corporation’s payout ratio is 33.93%.
In other news, Director Candy M. Obourn sold 1,241 shares of Parker-Hannifin Corporation stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $161.46, for a total value of $200,371.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Robert W. Malone sold 540 shares of Parker-Hannifin Corporation stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.37, for a total value of $100,639.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,215 shares of company stock worth $1,964,758. 1.12% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PH. Israel Discount Bank of New York lifted its stake in shares of Parker-Hannifin Corporation by 31.6% in the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 150 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Parker-Hannifin Corporation by 4.1% in the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 24 shares in the last quarter. IHT Wealth Management LLC lifted its stake in shares of Parker-Hannifin Corporation by 20.8% in the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 20 shares in the last quarter. BT Investment Management Ltd acquired a new position in shares of Parker-Hannifin Corporation in the 2nd quarter valued at about $124,000. Finally, Sun Life Financial INC lifted its stake in shares of Parker-Hannifin Corporation by 8,108.3% in the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 973 shares in the last quarter. 79.64% of the stock is currently owned by institutional investors and hedge funds.
About Parker-Hannifin Corporation
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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