Parker-Hannifin (NYSE:PH - Free Report) had its price target cut by Citigroup from $795.00 to $665.00 in a research report report published on Monday morning, MarketBeat reports. They currently have a buy rating on the industrial products company's stock.
PH has been the subject of several other reports. Stifel Nicolaus decreased their price target on shares of Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating for the company in a report on Monday. Wells Fargo & Company upped their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a report on Friday, January 31st. KeyCorp cut their price target on Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Evercore ISI upped their price objective 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, UBS Group dropped their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and an average price target of $705.35.
View Our Latest Stock Report on Parker-Hannifin
Parker-Hannifin Stock Up 0.3 %
Parker-Hannifin stock traded up $1.76 during midday trading on Monday, hitting $561.21. The stock had a trading volume of 558,227 shares, compared to its average volume of 712,584. The business has a fifty day moving average price of $619.17 and a 200 day moving average price of $648.41. Parker-Hannifin has a 12 month low of $488.45 and a 12 month high of $718.44. The stock has a market cap of $72.24 billion, a P/E ratio of 23.23, a P/E/G ratio of 2.85 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Research analysts predict that Parker-Hannifin will post 26.71 EPS for the current year.
Parker-Hannifin Announces Dividend
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 dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Friday, February 7th. Parker-Hannifin's payout ratio is currently 26.99%.
Institutional Trading of Parker-Hannifin
Several institutional investors have recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin in the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin during the fourth quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin during the fourth quarter valued at approximately $32,000. Finally, Bank of New Hampshire bought a new stake in Parker-Hannifin during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 82.44% of the company's stock.
Parker-Hannifin Company Profile
(
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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.
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