Parker-Hannifin (NYSE:PH) Given New $564.00 Price Target at Stifel Nicolaus

Parker-Hannifin (NYSE:PH) had its price target cut by Stifel Nicolaus from $691.00 to $564.00 in a research report report published on Monday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Several other brokerages also recently issued reports on PH. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. KeyCorp cut their target price on Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. UBS Group cut their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Evercore ISI raised their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $705.35.

Parker-Hannifin Stock Up 0.7 %

Parker-Hannifin stock opened at $569.24 on Monday. The company’s 50 day simple moving average is $628.88 and its 200 day simple moving average is $650.57. 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 has a market capitalization of $73.27 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.85 and a beta of 1.39. Parker-Hannifin has a fifty-two week low of $488.45 and a fifty-two week high of $718.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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 net margin of 15.87% and a return on equity of 27.34%. As a group, sell-side analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PH. Vanguard Group Inc. raised its stake in Parker-Hannifin by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company’s stock valued at $6,903,962,000 after purchasing an additional 111,406 shares in the last quarter. Geode Capital Management LLC lifted 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 buying an additional 99,261 shares during the last quarter. Invesco Ltd. raised its stake in Parker-Hannifin by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company’s stock worth $1,591,810,000 after acquiring an additional 198,292 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Parker-Hannifin by 99.8% in the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock worth $1,448,241,000 after acquiring an additional 1,137,564 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in Parker-Hannifin by 9.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company’s stock valued at $1,282,294,000 after purchasing an additional 172,064 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

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.