Parker-Hannifin (NYSE:PH) Sees Strong Trading Volume - What's Next?

Parker-Hannifin Co. (NYSE:PH - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 592,944 shares were traded during mid-day trading, a decline of 4% from the previous session's volume of 615,890 shares.The stock last traded at $619.52 and had previously closed at $650.56.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a "hold" rating in a report on Friday, January 31st. Wells Fargo & Company lifted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. KeyCorp increased their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. TD Cowen boosted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. Finally, Truist Financial increased their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $739.06.

Parker-Hannifin Stock Performance

The business has a fifty day simple moving average of $665.45 and a two-hundred day simple moving average of $650.27. The company has a market cap of $82.64 billion, a P/E ratio of 26.55, a P/E/G ratio of 2.85 and a beta of 1.45. 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 (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (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%. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.

Hedge Funds Weigh In On Parker-Hannifin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position in shares of Parker-Hannifin by 13.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,212 shares of the industrial products company's stock valued at $766,000 after buying an additional 144 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Parker-Hannifin by 14.2% in the 3rd quarter. QRG Capital Management Inc. now owns 10,708 shares of the industrial products company's stock worth $6,765,000 after purchasing an additional 1,334 shares during the period. ASB Consultores LLC purchased a new position in Parker-Hannifin during the third quarter worth $224,000. Hanlon Investment Management Inc. bought a new position in Parker-Hannifin during the 3rd quarter valued at about $210,000. Finally, Crestwood Advisors Group LLC grew its stake in shares of Parker-Hannifin by 3.6% during the third quarter. Crestwood Advisors Group LLC now owns 1,998 shares of the industrial products company's stock valued at $1,262,000 after buying an additional 70 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Company Profile

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.