Parker-Hannifin (NYSE:PH) Reaches New 12-Month Low - Should You Sell?

Parker-Hannifin Co. (NYSE:PH - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $488.45 and last traded at $496.98, with a volume of 107957 shares changing hands. The stock had previously closed at $517.23.

Analyst Ratings Changes

Several equities analysts have weighed in on PH shares. StockNews.com lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Truist Financial cut their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Barclays cut their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $720.47.

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Parker-Hannifin Stock Performance

The stock's 50-day moving average price is $631.27 and its 200 day moving average price is $650.91. The firm has a market cap of $72.70 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

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

Parker-Hannifin Dividend Announcement

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

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently bought and sold shares of PH. Franklin Resources Inc. lifted its holdings in Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock valued at $415,409,000 after purchasing an additional 181,859 shares during the last quarter. Howard Capital Management Group LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth about $23,390,000. SG Americas Securities LLC raised its holdings in Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock valued at $15,507,000 after acquiring an additional 21,521 shares during the period. Columbus Macro LLC boosted its holdings in shares of Parker-Hannifin by 485.2% during the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after acquiring an additional 8,914 shares during the period. Finally, Congress Asset Management Co. grew its position in shares of Parker-Hannifin by 15.5% in the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after purchasing an additional 25,605 shares during the last quarter. 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.