Shares of Parker-Hannifin Corp (NYSE:PH) have been assigned a consensus recommendation of “Buy” from the twenty-three analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $188.95.
Several analysts have issued reports on PH shares. Credit Suisse Group upped their price target on shares of Parker-Hannifin from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. BMO Capital Markets restated a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin in a research report on Friday, October 20th. ValuEngine upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Citigroup upped their price target on shares of Parker-Hannifin from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Finally, Robert W. Baird restated a “hold” rating and set a $183.00 price target on shares of Parker-Hannifin in a research report on Friday, October 13th.
In related news, VP Joseph R. Leonti sold 408 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total value of $65,565.60. Following the completion of the transaction, the vice president now directly owns 7,318 shares of the company’s stock, valued at $1,176,002.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Lee C. Banks sold 5,286 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $186.38, for a total transaction of $985,204.68. Following the completion of the transaction, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at $21,025,155.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,728 shares of company stock valued at $4,436,207. Insiders own 1.12% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. IHT Wealth Management LLC raised its stake in Parker-Hannifin by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after buying an additional 20 shares in the last quarter. Parallel Advisors LLC raised its stake in Parker-Hannifin by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after buying an additional 24 shares in the last quarter. Israel Discount Bank of New York raised its stake in Parker-Hannifin by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after buying an additional 150 shares in the last quarter. BT Investment Management Ltd bought a new position in Parker-Hannifin in the second quarter worth about $124,000. Finally, Steward Partners Investment Advisory LLC bought a new position in Parker-Hannifin in the third quarter worth about $168,000. 78.24% of the stock is owned by institutional investors.
Shares of Parker-Hannifin (PH) traded down $1.54 during trading hours on Thursday, reaching $184.31. 717,585 shares of the company traded hands, compared to its average volume of 992,836. Parker-Hannifin has a one year low of $139.49 and a one year high of $190.00. The stock has a market capitalization of $24,760.00, a price-to-earnings ratio of 21.48, a PEG ratio of 1.68 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.22. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period in the prior year, the business posted $1.61 earnings per share. The company’s revenue was up 22.7% on a year-over-year basis. equities analysts predict that Parker-Hannifin will post 9.56 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.43%. The ex-dividend date was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio (DPR) is 33.89%.
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Parker-Hannifin Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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