Parker-Hannifin Corporation (PH) Rating Reiterated by Stifel Nicolaus
Stifel Nicolaus restated their buy rating on shares of Parker-Hannifin Corporation (NYSE:PH) in a report published on Friday. They currently have a $210.00 price target on the industrial products company’s stock.
PH has been the topic of a number of other research reports. Wolfe Research began coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They set an outperform rating and a $182.00 price target on the stock. Morgan Stanley lowered shares of Parker-Hannifin Corporation from an overweight rating to an equal weight rating and set a $188.00 price target on the stock. in a report on Monday, October 2nd. KeyCorp reiterated an overweight rating and set a $185.00 price target on shares of Parker-Hannifin Corporation in a report on Saturday, September 16th. Zacks Investment Research lowered shares of Parker-Hannifin Corporation from a buy rating to a hold rating in a report on Tuesday, October 17th. Finally, Buckingham Research boosted their target price on shares of Parker-Hannifin Corporation from $205.00 to $210.00 and gave the company a buy rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $188.37.
Shares of Parker-Hannifin Corporation (NYSE PH) traded up $1.18 during trading hours on Friday, hitting $185.88. 127,304 shares of the stock were exchanged, compared to its average volume of 766,889. The firm has a market capitalization of $24,760.00, a price-to-earnings ratio of 21.28, a PEG ratio of 1.70 and a beta of 1.40. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. Parker-Hannifin Corporation has a 52 week low of $123.82 and a 52 week high of $189.83.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. Parker-Hannifin Corporation’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 earnings per share. research analysts anticipate that Parker-Hannifin Corporation will post 9.37 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.64 annualized dividend and a dividend yield of 1.42%. Parker-Hannifin Corporation’s dividend payout ratio is currently 33.89%.
In other news, COO Lee C. Banks sold 5,286 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.38, for a total transaction of $985,204.68. Following the completion of the sale, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at $21,025,155.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Scaminace sold 500 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,215 shares of company stock valued at $1,964,758. 1.12% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. IHT Wealth Management LLC grew its position in 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 worth $119,000 after purchasing an additional 20 shares in the last quarter. Parallel Advisors LLC grew its position in Parker-Hannifin Corporation by 4.1% in the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 24 shares in the last quarter. Israel Discount Bank of New York grew its position in 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 worth $100,000 after purchasing an additional 150 shares in the last quarter. BT Investment Management Ltd bought a new stake in Parker-Hannifin Corporation in the 2nd quarter worth about $124,000. Finally, Sun Life Financial INC grew its position in 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 worth $157,000 after purchasing an additional 973 shares in the last quarter. 79.64% of the stock is 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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