Parker-Hannifin (PH) Hits New 12-Month High at $190.82
Shares of Parker-Hannifin Corp (NYSE:PH) reached a new 52-week high during trading on Thursday . The company traded as high as $190.82 and last traded at $186.33, with a volume of 960200 shares. The stock had previously closed at $184.31.
PH has been the topic of a number of research analyst reports. Stifel Nicolaus reiterated a “buy” rating and set a $198.00 target price on shares of Parker-Hannifin in a research report on Friday, October 13th. Buckingham Research initiated coverage on Parker-Hannifin in a research report on Tuesday, October 17th. They set a “buy” rating and a $205.00 target price on the stock. KeyCorp reiterated a “buy” rating and set a $200.00 target price on shares of Parker-Hannifin in a research report on Thursday, October 12th. Zacks Investment Research upgraded Parker-Hannifin from a “hold” rating to a “buy” rating and set a $198.00 target price on the stock in a research report on Tuesday, October 10th. Finally, ValuEngine upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. Parker-Hannifin presently has an average rating of “Buy” and a consensus target price of $188.95.
The stock has a market cap of $25,490.00, a PE ratio of 21.39, a PEG ratio of 1.67 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 EPS. equities analysts forecast that Parker-Hannifin Corp will post 9.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 33.89%.
In other Parker-Hannifin news, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total value of $437,368.80. Following the sale, the vice president now owns 31,718 shares of the company’s stock, valued at approximately $5,254,721.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Lee C. Banks sold 5,286 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total value of $985,204.68. Following the completion of the sale, the chief operating officer now directly owns 112,808 shares in the company, valued at approximately $21,025,155.04. The disclosure for this sale can be found here. Insiders sold a total of 23,079 shares of company stock worth $4,170,269 in the last 90 days. 1.12% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Israel Discount Bank of New York boosted its holdings in Parker-Hannifin 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 boosted its stake in shares of Parker-Hannifin 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 acquiring an additional 24 shares in the last quarter. IHT Wealth Management LLC boosted its stake in shares of Parker-Hannifin 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 acquiring an additional 20 shares in the last quarter. BT Investment Management Ltd purchased a new stake in shares of Parker-Hannifin during the 2nd quarter worth approximately $124,000. Finally, Sun Life Financial INC boosted its stake in shares of Parker-Hannifin by 8,108.3% during the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 973 shares in the last quarter. 78.24% of the stock is currently owned by institutional investors.
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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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