StockNews.com Downgrades Parker-Hannifin (NYSE:PH) to Hold

StockNews.com lowered shares of Parker-Hannifin (NYSE:PH - Free Report) from a buy rating to a hold rating in a research note released on Wednesday morning.

A number of other research firms have also recently commented on PH. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the company a "hold" rating in a research report on Friday, January 31st. Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective on the stock. Truist Financial lifted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a "buy" rating in a report on Thursday, December 19th. UBS Group cut 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. Finally, Wells Fargo & Company raised their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $736.65.

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Parker-Hannifin Trading Down 0.3 %

Shares of PH stock traded down $1.93 during trading on Wednesday, hitting $622.79. 813,148 shares of the stock traded hands, compared to its average volume of 641,889. The firm has a market capitalization of $80.17 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50. Parker-Hannifin has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm's fifty day moving average price is $660.60 and its 200-day moving average price is $653.19.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS 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%. As a group, research analysts forecast that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.05%. Parker-Hannifin's dividend payout ratio (DPR) is 26.99%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Parker-Hannifin by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock worth $6,903,962,000 after purchasing an additional 111,406 shares during the last quarter. State Street Corp lifted its holdings in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock worth $3,918,696,000 after buying an additional 753,143 shares during the last quarter. FMR LLC lifted its holdings in Parker-Hannifin by 7.1% during the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock worth $2,600,733,000 after buying an additional 272,531 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Parker-Hannifin by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock worth $1,699,580,000 after acquiring an additional 99,261 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Parker-Hannifin by 8.6% in the 4th quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock valued at $1,591,810,000 after acquiring an additional 198,292 shares during the last quarter. Institutional investors and hedge funds 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.