Gordon Haskett started coverage on shares of Parker-Hannifin (NYSE:PH) in a research report sent to investors on Friday, MarketBeat Ratings reports. The firm issued a sell rating on the industrial products company’s stock.
Other analysts have also recently issued reports about the stock. Jefferies Financial Group restated a $162.10 rating and set a $170.00 target price on shares of Parker-Hannifin in a report on Wednesday, July 18th. BMO Capital Markets restated a buy rating and set a $190.00 target price on shares of Parker-Hannifin in a report on Thursday, July 19th. Robert W. Baird set a $190.00 target price on shares of Parker-Hannifin and gave the stock a buy rating in a report on Thursday, August 2nd. Buckingham Research upgraded shares of Parker-Hannifin from a neutral rating to a buy rating in a report on Friday, September 14th. Finally, Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $200.00 to $212.00 and gave the stock a buy rating in a report on Monday, September 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $189.89.
NYSE:PH traded up $1.70 during trading hours on Friday, reaching $167.30. 1,130,245 shares of the company’s stock were exchanged, compared to its average volume of 1,140,054. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.43 and a beta of 1.41. Parker-Hannifin has a 12 month low of $152.47 and a 12 month high of $212.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.59.
Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.91 by $0.31. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $2.45 earnings per share. On average, sell-side analysts expect that Parker-Hannifin will post 11.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Tuesday, August 28th were given a $0.76 dividend. The ex-dividend date of this dividend was Monday, August 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.82%. Parker-Hannifin’s payout ratio is 29.17%.
In other Parker-Hannifin news, VP William R. Bowman sold 2,400 shares of the stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total value of $420,864.00. Following the completion of the sale, the vice president now owns 1,325 shares in the company, valued at approximately $232,352. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Leonti sold 1,605 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total transaction of $283,378.80. Following the completion of the sale, the vice president now owns 15,731 shares of the company’s stock, valued at approximately $2,777,465.36. The disclosure for this sale can be found here. 1.12% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in PH. Stokes Capital Advisors LLC grew its stake in Parker-Hannifin by 2.9% in the 3rd quarter. Stokes Capital Advisors LLC now owns 11,780 shares of the industrial products company’s stock valued at $2,167,000 after buying an additional 330 shares during the last quarter. DNB Asset Management AS grew its stake in Parker-Hannifin by 7.5% in the 3rd quarter. DNB Asset Management AS now owns 24,042 shares of the industrial products company’s stock valued at $4,422,000 after buying an additional 1,677 shares during the last quarter. Lourd Capital LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at $560,000. Royal London Asset Management Ltd. acquired a new position in Parker-Hannifin in the 2nd quarter valued at $8,662,000. Finally, Northern Trust Corp grew its stake in Parker-Hannifin by 1.0% in the 2nd quarter. Northern Trust Corp now owns 1,646,375 shares of the industrial products company’s stock valued at $256,588,000 after buying an additional 16,377 shares during the last quarter. Institutional investors own 79.53% 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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