Parker-Hannifin (NYSE:PH) Coverage Initiated by Analysts at Citigroup

Citigroup began coverage on shares of Parker-Hannifin (NYSE:PH) in a report released on Friday morning, MarketBeat.com reports. The firm issued a buy rating and a $795.00 price target on the industrial products company’s stock.

Several other equities analysts have also issued reports on PH. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. Argus lifted their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. UBS Group cut their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. KeyCorp raised their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Price Performance

Shares of PH stock opened at $683.62 on Friday. 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 stock’s fifty day simple moving average is $665.96 and its 200 day simple moving average is $633.41. Parker-Hannifin has a one year low of $492.71 and a one year high of $718.44. The firm has a market cap of $88.00 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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, analysts expect that Parker-Hannifin will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 26.99%.

Institutional Investors Weigh In On Parker-Hannifin

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $25,000. West Branch Capital LLC acquired a new position in Parker-Hannifin during the third quarter valued at approximately $25,000. Prestige Wealth Management Group LLC grew its stake in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $35,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin during the 3rd quarter worth approximately $39,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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.