Parker-Hannifin (NYSE:PH) Price Target Lowered to $690.00 at KeyCorp

Parker-Hannifin (NYSE:PH - Free Report) had its price objective lowered by KeyCorp from $790.00 to $690.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the industrial products company's stock.

A number of other research analysts also recently issued reports on the stock. Truist Financial boosted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Citigroup began coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a "buy" rating and a $795.00 price objective on the stock. Wells Fargo & Company raised their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. Finally, Stifel Nicolaus raised their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $720.47.

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Parker-Hannifin Trading Up 0.8 %

Shares of NYSE:PH traded up $4.60 during midday trading on Tuesday, hitting $564.78. 938,635 shares of the stock traded hands, compared to its average volume of 710,689. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $72.70 billion, a PE ratio of 23.38, a P/E/G ratio of 2.85 and a beta of 1.39. Parker-Hannifin has a one year low of $488.45 and a one year high of $718.44. The business's 50 day moving average is $631.27 and its two-hundred day moving average is $650.91.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, research analysts forecast that Parker-Hannifin will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin's payout ratio is currently 26.99%.

Institutional Trading of Parker-Hannifin

A number of institutional investors have recently made changes to their positions in the stock. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at about $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $32,000. Finally, Prestige Wealth Management Group LLC raised its stake in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after acquiring an additional 25 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.