Morgan Stanley Raises Parker-Hannifin Corporation (PH) Price Target to $195.00
Parker-Hannifin Corporation (NYSE:PH) had its price target hoisted by Morgan Stanley from $188.00 to $195.00 in a research report released on Friday. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.
A number of other equities analysts also recently commented on PH. Stifel Nicolaus reaffirmed a buy rating and set a $176.00 price objective on shares of Parker-Hannifin Corporation in a report on Thursday, July 6th. Wolfe Research initiated coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They set an outperform rating and a $182.00 price objective for the company. BidaskClub downgraded shares of Parker-Hannifin Corporation from a buy rating to a hold rating in a report on Monday, July 24th. Jefferies Group LLC reissued a hold rating and set a $163.00 price target on shares of Parker-Hannifin Corporation in a report on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of Parker-Hannifin Corporation from a buy rating to a hold rating in a report on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Parker-Hannifin Corporation currently has a consensus rating of Buy and an average target price of $187.58.
Parker-Hannifin Corporation (PH) traded down $0.61 during trading hours on Friday, hitting $184.77. 142,531 shares of the stock were exchanged, compared to its average volume of 693,346. The company has a market cap of $24,692.63, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 1.70 and a beta of 1.40. Parker-Hannifin Corporation has a one year low of $119.13 and a one year high of $189.83. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87.
Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.22. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the firm earned $1.61 EPS. equities research analysts predict that Parker-Hannifin Corporation will post 9.37 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend is Thursday, November 9th. Parker-Hannifin Corporation’s dividend payout ratio is 33.93%.
In related news, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Candy M. Obourn sold 1,241 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $161.46, for a total transaction of $200,371.86. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,929 shares of company stock valued at $979,553. 1.12% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Tredje AP fonden boosted its stake in Parker-Hannifin Corporation by 146.9% during the 2nd quarter. Tredje AP fonden now owns 13,578 shares of the industrial products company’s stock worth $2,170,000 after acquiring an additional 8,078 shares during the last quarter. Koch Industries Inc. bought a new position in Parker-Hannifin Corporation during the 2nd quarter worth approximately $521,000. Sand Hill Global Advisors LLC bought a new position in Parker-Hannifin Corporation during the 2nd quarter worth approximately $4,194,000. Chicago Equity Partners LLC boosted its stake in Parker-Hannifin Corporation by 4.6% during the 2nd quarter. Chicago Equity Partners LLC now owns 66,375 shares of the industrial products company’s stock worth $10,608,000 after acquiring an additional 2,930 shares during the last quarter. Finally, TIAA FSB bought a new position in Parker-Hannifin Corporation during the 2nd quarter worth approximately $4,175,000. 79.64% of the stock is currently owned by institutional investors and hedge funds.
Parker-Hannifin Corporation Company Profile
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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