ValuEngine upgraded shares of Parker-Hannifin (NYSE:PH) from a sell rating to a hold rating in a research report released on Tuesday.
Several other research analysts have also issued reports on PH. MED lowered shares of Parker-Hannifin from a buy rating to a hold rating and set a $169.00 price target for the company. in a research report on Thursday, July 12th. Deutsche Bank set a $169.00 price target on shares of Parker-Hannifin and gave the stock a hold rating in a research report on Thursday, July 12th. Citigroup dropped their price target on shares of Parker-Hannifin from $185.00 to $178.00 and set a neutral rating for the company in a research report on Friday, November 2nd. Cowen reissued a hold rating and issued a $165.00 price target on shares of Parker-Hannifin in a research report on Friday, July 20th. Finally, Gordon Haskett began coverage on shares of Parker-Hannifin in a research report on Friday, October 12th. They issued a sell rating for the company. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $186.72.
Shares of PH opened at $167.17 on Tuesday. The stock has a market cap of $21.41 billion, a PE ratio of 16.04, a P/E/G ratio of 1.25 and a beta of 1.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.60 and a quick ratio of 1.07. Parker-Hannifin has a 52 week low of $143.00 and a 52 week high of $212.80.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, November 1st. The industrial products company reported $2.84 EPS for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.31. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.54 billion. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.24 earnings per share. Equities analysts predict that Parker-Hannifin will post 11.55 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 9th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, November 8th. Parker-Hannifin’s payout ratio is 29.17%.
In other news, VP Joseph R. Leonti sold 1,605 shares of the stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $176.56, for a total transaction of $283,378.80. Following the sale, the vice president now directly owns 15,731 shares of the company’s stock, valued at $2,777,465.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $420,864.00. Following the sale, the vice president now directly owns 1,325 shares in the company, valued at $232,352. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Parker-Hannifin by 2.0% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 427,526 shares of the industrial products company’s stock valued at $78,635,000 after purchasing an additional 8,396 shares during the last quarter. Stone Ridge Asset Management LLC bought a new position in Parker-Hannifin in the third quarter valued at approximately $353,000. Commonwealth Equity Services LLC boosted its stake in Parker-Hannifin by 6.4% in the third quarter. Commonwealth Equity Services LLC now owns 18,496 shares of the industrial products company’s stock valued at $3,402,000 after acquiring an additional 1,117 shares during the last quarter. Sentry Investment Management LLC boosted its stake in Parker-Hannifin by 11.7% in the third quarter. Sentry Investment Management LLC now owns 31,851 shares of the industrial products company’s stock valued at $5,858,000 after acquiring an additional 3,339 shares during the last quarter. Finally, Fort Pitt Capital Group LLC boosted its stake in Parker-Hannifin by 4.7% in the third quarter. Fort Pitt Capital Group LLC now owns 184,304 shares of the industrial products company’s stock valued at $33,899,000 after acquiring an additional 8,323 shares during the last quarter. 79.34% of the stock is currently owned by institutional investors and hedge funds.
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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