Parker-Hannifin (NYSE:PH) Price Target Cut to $689.00 by Analysts at Stifel Nicolaus

Parker-Hannifin (NYSE:PH - Free Report) had its price target cut by Stifel Nicolaus from $691.00 to $689.00 in a report published on Friday morning,Benzinga reports. They currently have a hold rating on the industrial products company's stock.

Several other equities analysts have also recently commented on PH. StockNews.com raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, October 12th. Mizuho lifted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Jefferies Financial Group raised their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a report on Friday, December 6th. Argus boosted their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, KeyCorp increased their target price on Parker-Hannifin from $725.00 to $775.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and an average price target of $722.81.

Parker-Hannifin Stock Performance

PH traded down $0.84 on Friday, hitting $679.25. The company's stock had a trading volume of 493,365 shares, compared to its average volume of 435,292. The company's 50 day simple moving average is $668.38 and its 200-day simple moving average is $624.32. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin has a 12 month low of $463.16 and a 12 month high of $712.42. The firm has a market cap of $87.43 billion, a P/E ratio of 30.68, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during 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% compared to the same quarter last year. During the same period in the previous year, the business earned $5.96 earnings per share. Analysts forecast that Parker-Hannifin will post 26.73 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin's dividend payout ratio is presently 29.45%.

Insider Activity at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now directly owns 15,350 shares of the company's stock, valued at approximately $9,686,464. This represents a 27.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares of the company's stock, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock valued at $12,303,829 in the last three months. Company insiders own 0.39% of the company's stock.

Institutional Trading of Parker-Hannifin

A number of institutional investors and hedge funds have recently modified their holdings of PH. Calamos Wealth Management LLC boosted its holdings in shares of Parker-Hannifin by 2.7% during the 4th quarter. Calamos Wealth Management LLC now owns 835 shares of the industrial products company's stock valued at $531,000 after acquiring an additional 22 shares during the last quarter. Calamos Advisors LLC raised its stake in Parker-Hannifin by 0.5% during the 4th quarter. Calamos Advisors LLC now owns 40,668 shares of the industrial products company's stock valued at $25,866,000 after buying an additional 216 shares during the last quarter. Patron Partners LLC lifted its holdings in shares of Parker-Hannifin by 3.2% during the 4th quarter. Patron Partners LLC now owns 652 shares of the industrial products company's stock valued at $415,000 after buying an additional 20 shares during the period. Columbus Macro LLC grew its holdings in shares of Parker-Hannifin by 485.2% in 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, GEN Financial Management INC. purchased a new stake in Parker-Hannifin during the fourth quarter valued at $601,000. 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.