Parker-Hannifin (NYSE:PH) Given New $700.00 Price Target at Barclays

Parker-Hannifin (NYSE:PH) had its target price cut by Barclays from $750.00 to $700.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other research analysts also recently issued research reports about the stock. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 price target for the company. Evercore ISI increased their target price on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, KeyCorp lowered their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating on the stock in a research note on Tuesday. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $720.47.

Parker-Hannifin Stock Down 6.1 %

PH stock opened at $559.67 on Thursday. The firm’s fifty day moving average is $633.78 and its 200 day moving average is $651.30. The firm has a market cap of $72.04 billion, a PE ratio of 23.17, a P/E/G ratio of 2.85 and a beta of 1.39. Parker-Hannifin has a one year low of $488.45 and a one year high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) 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%. On average, research analysts forecast that Parker-Hannifin will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.16%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.99%.

Hedge Funds Weigh In On Parker-Hannifin

Large investors have recently modified their holdings of the business. Global Retirement Partners LLC raised its holdings in Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock valued at $886,000 after buying an additional 15 shares during the period. FFT Wealth Management LLC raised its stake in shares of Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after acquiring an additional 15 shares during the period. GenTrust LLC lifted its holdings in shares of Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after acquiring an additional 15 shares during the last quarter. First Manhattan CO. LLC. boosted its position in shares of Parker-Hannifin by 1.0% during the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock worth $1,005,000 after purchasing an additional 15 shares during the period. Finally, Grove Bank & Trust boosted its position in shares of Parker-Hannifin by 11.9% during the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the period. 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.