Wells Fargo & Co reaffirmed their market perform rating on shares of Parker-Hannifin (NYSE:PH) in a report issued on Thursday morning.
Several other analysts have also commented on the stock. Zacks Investment Research lowered shares of Parker-Hannifin from a hold rating to a sell rating in a research note on Wednesday. Wolfe Research began coverage on shares of Parker-Hannifin in a research note on Wednesday. They set a market perform rating for the company. ValuEngine lowered shares of Parker-Hannifin from a hold rating to a sell rating in a research note on Friday, June 22nd. Citigroup cut their target price on shares of Parker-Hannifin from $205.00 to $180.00 and set a neutral rating for the company in a research note on Monday, April 30th. Finally, Buckingham Research cut their target price on shares of Parker-Hannifin from $210.00 to $195.00 and set a hold rating for the company in a research note on Friday, April 27th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. Parker-Hannifin has an average rating of Hold and a consensus price target of $200.40.
PH stock traded up $1.02 on Thursday, hitting $155.85. 811,100 shares of the company’s stock traded hands, compared to its average volume of 1,174,431. Parker-Hannifin has a 1-year low of $152.47 and a 1-year high of $212.80. The firm has a market cap of $20.47 billion, a PE ratio of 19.22, a P/E/G ratio of 1.55 and a beta of 1.42. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.59 and a quick ratio of 1.09.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, April 26th. The industrial products company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.62 by $0.18. Parker-Hannifin had a net margin of 7.16% and a return on equity of 23.63%. The business had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.67 billion. During the same period in the prior year, the business earned $2.11 earnings per share. The business’s quarterly revenue was up 20.2% on a year-over-year basis. sell-side analysts expect that Parker-Hannifin will post 10.08 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Thursday, May 10th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.95%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.66. Parker-Hannifin’s payout ratio is currently 37.48%.
In other Parker-Hannifin news, VP Robert W. Malone sold 430 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $165.12, for a total value of $71,001.60. Following the transaction, the vice president now owns 14,816 shares in the company, valued at approximately $2,446,417.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Thomas C. Gentile sold 570 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $176.73, for a total transaction of $100,736.10. The disclosure for this sale can be found here. Insiders have sold 14,578 shares of company stock worth $2,564,440 in the last 90 days. 1.12% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Brown Advisory Inc. increased its stake in Parker-Hannifin by 162.6% in the 1st quarter. Brown Advisory Inc. now owns 58,020 shares of the industrial products company’s stock valued at $9,924,000 after buying an additional 35,927 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Parker-Hannifin in the 1st quarter valued at approximately $3,773,000. Chesapeake Wealth Management acquired a new position in Parker-Hannifin in the 1st quarter valued at approximately $493,000. Suntrust Banks Inc. increased its stake in Parker-Hannifin by 10.6% in the 1st quarter. Suntrust Banks Inc. now owns 24,383 shares of the industrial products company’s stock valued at $4,169,000 after buying an additional 2,346 shares during the period. Finally, Amalgamated Bank increased its stake in Parker-Hannifin by 9.3% in the 1st quarter. Amalgamated Bank now owns 18,986 shares of the industrial products company’s stock valued at $3,247,000 after buying an additional 1,617 shares during the period. Hedge funds and other institutional investors own 79.93% of the company’s stock.
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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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