Parker-Hannifin Corporation (PH) Price Target Raised to $185.00 at Jefferies Group LLC
Parker-Hannifin Corporation (NYSE:PH) had its price objective boosted by Jefferies Group LLC from $175.00 to $185.00 in a report issued on Friday. Jefferies Group LLC currently has a hold rating on the industrial products company’s stock. Jefferies Group also issued estimates for Parker-Hannifin Corporation’s Q3 2018 earnings at $2.45 EPS, Q4 2018 earnings at $2.85 EPS, FY2019 earnings at $10.60 EPS and FY2020 earnings at $11.30 EPS.
Other research analysts have also issued reports about the company. BidaskClub lowered Parker-Hannifin Corporation from a buy rating to a hold rating in a research report on Monday, July 24th. Stifel Nicolaus reiterated a buy rating and set a $189.00 target price on shares of Parker-Hannifin Corporation in a report on Friday, July 14th. Buckingham Research lifted their target price on Parker-Hannifin Corporation from $205.00 to $210.00 and gave the stock a buy rating in a report on Friday. Credit Suisse Group lifted their target price on Parker-Hannifin Corporation from $205.00 to $206.00 and gave the stock an outperform rating in a report on Friday. Finally, Robert W. Baird lifted their target price on Parker-Hannifin Corporation from $183.00 to $194.00 and gave the stock a neutral rating in a report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. Parker-Hannifin Corporation currently has an average rating of Buy and a consensus price target of $187.58.
Parker-Hannifin Corporation (NYSE PH) traded up $3.39 during trading hours on Friday, hitting $185.38. The stock had a trading volume of 825,843 shares, compared to its average volume of 698,857. Parker-Hannifin Corporation has a 1-year low of $119.13 and a 1-year high of $189.83. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95. The company has a market cap of $24,692.62, a price-to-earnings ratio of 21.28, a P/E/G ratio of 1.73 and a beta of 1.40.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analyst estimates of $3.31 billion. During the same period last year, the company earned $1.61 EPS. The firm’s revenue was up 22.7% on a year-over-year basis. sell-side analysts predict that Parker-Hannifin Corporation will post 9.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s dividend payout ratio is currently 33.93%.
In related news, VP Robert W. Malone sold 540 shares of Parker-Hannifin Corporation stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $186.37, for a total value of $100,639.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total value of $437,368.80. Following the completion of the sale, the vice president now directly owns 31,718 shares in the company, valued at approximately $5,254,721.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,929 shares of company stock worth $979,553. 1.12% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in PH. Israel Discount Bank of New York increased its position in Parker-Hannifin Corporation by 31.6% during the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after buying an additional 150 shares during the last quarter. Parallel Advisors LLC increased its position in Parker-Hannifin Corporation by 4.1% during the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after buying an additional 24 shares during the last quarter. IHT Wealth Management LLC increased its position in Parker-Hannifin Corporation by 20.8% during the second 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 during the last quarter. BT Investment Management Ltd acquired a new position in Parker-Hannifin Corporation during the second quarter worth approximately $124,000. Finally, Sun Life Financial INC increased its position in Parker-Hannifin Corporation by 8,108.3% during the second quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after buying an additional 973 shares during the last quarter. 79.50% 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.
Receive News & Ratings for Parker-Hannifin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.