KeyCorp restated their overweight rating on shares of Parker-Hannifin Corporation (NYSE:PH) in a report released on Saturday. KeyCorp currently has a $185.00 price target on the industrial products company’s stock.

Several other brokerages have also issued reports on PH. Jefferies Group LLC set a $163.00 price target on shares of Parker-Hannifin Corporation and gave the company a hold rating in a report on Wednesday, June 28th. BidaskClub lowered shares of Parker-Hannifin Corporation from a buy rating to a hold rating in a report on Monday, July 24th. Stifel Nicolaus reissued a buy rating and issued a $176.00 price target on shares of Parker-Hannifin Corporation in a report on Thursday, July 6th. ValuEngine raised shares of Parker-Hannifin Corporation from a hold rating to a buy rating in a report on Wednesday, June 14th. Finally, Zacks Investment Research lowered 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, five have given a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $174.38.

Parker-Hannifin Corporation (PH) traded up 1.05% on Friday, hitting $169.69. 1,142,292 shares of the stock were exchanged. The stock has a market cap of $22.59 billion, a PE ratio of 23.41 and a beta of 1.41. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $170.67. The company’s 50 day moving average is $161.07 and its 200 day moving average is $159.70.

Parker-Hannifin Corporation (NYSE:PH) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.14. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. Parker-Hannifin Corporation’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 earnings per share. On average, equities research analysts expect that Parker-Hannifin Corporation will post $9.08 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Thursday, August 24th. Parker-Hannifin Corporation’s payout ratio is 36.51%.

In related news, Director Joseph Scaminace sold 500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark J. Hart sold 600 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $160.72, for a total transaction of $96,432.00. Following the transaction, the executive vice president now owns 5,851 shares in the company, valued at approximately $940,372.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,389 shares of company stock worth $878,913. 2.73% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. lifted its position in Parker-Hannifin Corporation by 1.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,306 shares of the industrial products company’s stock worth $209,000 after buying an additional 15 shares in the last quarter. IHT Wealth Management LLC lifted its position in Parker-Hannifin Corporation by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after buying an additional 20 shares in the last quarter. Parallel Advisors LLC lifted its position in Parker-Hannifin Corporation by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after buying an additional 24 shares in the last quarter. People s United Financial Inc. lifted its position in Parker-Hannifin Corporation by 0.5% during the 2nd quarter. People s United Financial Inc. now owns 6,079 shares of the industrial products company’s stock worth $972,000 after buying an additional 31 shares in the last quarter. Finally, Calamos Wealth Management LLC lifted its position in Parker-Hannifin Corporation by 0.4% during the 2nd quarter. Calamos Wealth Management LLC now owns 8,144 shares of the industrial products company’s stock worth $1,302,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.

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.

Analyst Recommendations for Parker-Hannifin Corporation (NYSE:PH)

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