Parker-Hannifin (NYSE:PH) PT Lowered to $618.00

Parker-Hannifin (NYSE:PH) had its target price trimmed by Barclays from $625.00 to $618.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

PH has been the topic of a number of other research reports. Truist Financial initiated coverage on Parker-Hannifin in a research note on Thursday, March 14th. They issued a buy rating and a $602.00 price target on the stock. KeyCorp increased their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Mizuho increased their price objective on Parker-Hannifin from $490.00 to $550.00 and gave the stock a neutral rating in a research report on Friday. Stifel Nicolaus increased their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Finally, Evercore ISI increased their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an outperform rating in a research report on Tuesday, February 20th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of Moderate Buy and an average price target of $539.56.

Parker-Hannifin Trading Up 2.7 %

Shares of Parker-Hannifin stock opened at $550.79 on Friday. Parker-Hannifin has a 12-month low of $319.14 and a 12-month high of $570.15. The stock has a market cap of $70.73 billion, a P/E ratio of 25.96, a P/E/G ratio of 1.94 and a beta of 1.51. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $545.36 and its 200-day moving average is $485.16.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the prior year, the business posted $5.93 EPS. The business’s revenue was up .3% compared to the same quarter last year. Equities research analysts predict that Parker-Hannifin will post 24.62 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a dividend of $1.63 per share. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is 27.90%.

Institutional Trading of Parker-Hannifin

Several large investors have recently modified their holdings of PH. OFI Invest Asset Management acquired a new stake in Parker-Hannifin in the third quarter valued at about $25,000. Sachetta LLC acquired a new stake in Parker-Hannifin in the fourth quarter valued at about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Parker-Hannifin in the fourth quarter valued at about $26,000. Baystate Wealth Management LLC boosted its stake in Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after buying an additional 49 shares in the last quarter. Finally, First United Bank & Trust acquired a new stake in Parker-Hannifin in the fourth quarter valued at about $29,000. 82.44% of the stock is owned by institutional investors and hedge funds.

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.