Parker-Hannifin (NYSE:PH) had its target price trimmed by Citigroup from $185.00 to $178.00 in a report issued on Friday morning. The firm currently has a neutral rating on the industrial products company’s stock.
Several other analysts have also recently commented on the company. Wells Fargo & Co upgraded Parker-Hannifin from a market perform rating to an outperform rating and set a $193.00 target price on the stock in a report on Friday. Zacks Investment Research cut Parker-Hannifin from a buy rating to a hold rating in a report on Thursday, October 18th. ValuEngine cut Parker-Hannifin from a hold rating to a sell rating in a report on Wednesday, October 17th. Cowen cut Parker-Hannifin from a market perform rating to an underperform rating in a report on Monday, October 15th. Finally, Gordon Haskett assumed coverage on Parker-Hannifin in a report on Friday, October 12th. They set a sell rating on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. Parker-Hannifin presently has an average rating of Hold and an average price target of $186.72.
Shares of NYSE:PH opened at $164.10 on Friday. Parker-Hannifin has a fifty-two week low of $143.00 and a fifty-two week high of $212.80. The firm has a market capitalization of $21.41 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.25 and a beta of 1.52. The company has a current ratio of 1.60, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 1st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.31. Parker-Hannifin had a return on equity of 25.49% and a net margin of 7.98%. The firm had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the business posted $2.24 earnings per share. The business’s revenue was up 3.4% compared to the same quarter last year. As a group, research analysts predict that Parker-Hannifin will post 11.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.17%.
In other news, VP Joseph R. Leonti sold 1,605 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 15,731 shares of the company’s stock, valued at $2,777,465.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William R. Bowman sold 2,400 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 1,325 shares in the company, valued at approximately $232,352. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Fulcrum Capital LLC lifted its stake in shares of Parker-Hannifin by 6.5% during the third quarter. Fulcrum Capital LLC now owns 20,428 shares of the industrial products company’s stock valued at $3,757,000 after acquiring an additional 1,248 shares during the period. Dupont Capital Management Corp lifted its stake in Parker-Hannifin by 53.1% in the third quarter. Dupont Capital Management Corp now owns 68,754 shares of the industrial products company’s stock valued at $12,646,000 after buying an additional 23,846 shares during the period. FTB Advisors Inc. lifted its stake in Parker-Hannifin by 1.3% in the third quarter. FTB Advisors Inc. now owns 27,073 shares of the industrial products company’s stock valued at $5,849,000 after buying an additional 357 shares during the period. Pegasus Asset Management Inc. acquired a new position in Parker-Hannifin in the third quarter valued at about $2,002,000. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in Parker-Hannifin by 99.7% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,470 shares of the industrial products company’s stock valued at $1,190,000 after buying an additional 3,230 shares during the period. 79.34% of the stock is currently 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 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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