Wolfe Research lowered shares of Parker-Hannifin (NYSE:PH - Free Report) from an outperform rating to a peer perform rating in a research report released on Thursday, MarketBeat reports.
Several other analysts have also recently weighed in on PH. Barclays decreased their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an "overweight" rating on the stock in a research note on Monday, March 10th. StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. KeyCorp upped their target price on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Stifel Nicolaus upped their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Finally, Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $723.41.
Get Our Latest Analysis on Parker-Hannifin
Parker-Hannifin Stock Performance
Parker-Hannifin stock traded up $7.39 during trading hours on Thursday, hitting $539.04. The stock had a trading volume of 609,182 shares, compared to its average volume of 832,275. The company has a market cap of $69.38 billion, a PE ratio of 22.28, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The company has a 50-day moving average of $646.55 and a two-hundred day moving average of $653.92.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, equities research analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current fiscal 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. The ex-dividend date was Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of PH. Benjamin Edwards Inc. increased its position in Parker-Hannifin by 827.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 3,941 shares of the industrial products company's stock valued at $2,490,000 after purchasing an additional 3,516 shares during the period. Investment Management Corp of Ontario lifted its holdings in Parker-Hannifin by 48.7% in the third quarter. Investment Management Corp of Ontario now owns 4,275 shares of the industrial products company's stock valued at $2,701,000 after buying an additional 1,400 shares during the period. IHT Wealth Management LLC grew its holdings in Parker-Hannifin by 18.6% during the 3rd quarter. IHT Wealth Management LLC now owns 1,705 shares of the industrial products company's stock worth $1,077,000 after acquiring an additional 267 shares during the period. Polymer Capital Management HK LTD bought a new stake in Parker-Hannifin in the third quarter worth approximately $379,000. Finally, Resurgent Financial Advisors LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter worth approximately $239,000. 82.44% of the stock is owned by institutional investors.
About Parker-Hannifin
(
Get Free Report)
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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