KeyCorp Raises Parker-Hannifin (NYSE:PH) Price Target to $775.00

Parker-Hannifin (NYSE:PH - Free Report) had its price objective hoisted by KeyCorp from $725.00 to $775.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an overweight rating on the industrial products company's stock.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company increased their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Robert W. Baird lifted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Argus upped their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Finally, Mizuho boosted their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $691.40.

Parker-Hannifin Stock Up 1.8 %

Shares of PH traded up $12.25 during trading hours on Thursday, hitting $702.68. The company had a trading volume of 655,500 shares, compared to its average volume of 642,191. The stock has a market capitalization of $90.45 billion, a price-to-earnings ratio of 31.72, a P/E/G ratio of 2.78 and a beta of 1.43. The firm has a fifty day moving average price of $642.71 and a 200-day moving average price of $578.38. Parker-Hannifin has a 52-week low of $426.49 and a 52-week high of $711.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analysts' expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the firm posted $5.96 EPS. On average, equities research analysts forecast that Parker-Hannifin will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. Parker-Hannifin's payout ratio is 29.45%.

Insider Activity at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,927 shares of company stock worth $12,807,811 in the last quarter. 0.39% of the stock is owned by company insiders.

Institutional Trading of Parker-Hannifin

A number of hedge funds have recently added to or reduced their stakes in PH. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter valued at about $25,000. Bangor Savings Bank boosted its position in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Addison Advisors LLC purchased a new position in shares of Parker-Hannifin in the 2nd quarter valued at $25,000. Prestige Wealth Management Group LLC raised its position in shares of Parker-Hannifin by 83.3% in 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 in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter worth $39,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

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.