Parker-Hannifin (NYSE:PH) Price Target Raised to $630.00

by · The Markets Daily

Parker-Hannifin (NYSE:PH – Free Report) had its target price hoisted by Stifel Nicolaus from $564.00 to $630.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Several other research analysts have also issued reports on PH. UBS Group lowered their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. KeyCorp lowered their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Truist Financial decreased their price target on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Finally, Barclays decreased their target price on Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $711.88.

Read Our Latest Stock Analysis on Parker-Hannifin

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $619.37 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin has a 52 week low of $488.45 and a 52 week high of $718.44. The firm has a market cap of $79.73 billion, a PE ratio of 25.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The firm’s fifty day moving average is $600.70 and its 200-day moving average is $645.75.

Parker-Hannifin (NYSE:PH – Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $6.51 EPS. Sell-side analysts predict that Parker-Hannifin will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.16%. Parker-Hannifin’s dividend payout ratio is presently 27.72%.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hardy Reed LLC boosted its stake in Parker-Hannifin by 1.9% during the 1st quarter. Hardy Reed LLC now owns 1,456 shares of the industrial products company’s stock valued at $885,000 after purchasing an additional 27 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Parker-Hannifin by 29.1% during the first quarter. Commerzbank Aktiengesellschaft FI now owns 1,710 shares of the industrial products company’s stock valued at $1,040,000 after buying an additional 385 shares during the last quarter. Forum Financial Management LP grew its holdings in Parker-Hannifin by 3.3% during the first quarter. Forum Financial Management LP now owns 1,410 shares of the industrial products company’s stock worth $857,000 after buying an additional 45 shares in the last quarter. Kingsview Wealth Management LLC lifted its stake in Parker-Hannifin by 10.3% during the 1st quarter. Kingsview Wealth Management LLC now owns 2,092 shares of the industrial products company’s stock valued at $1,272,000 after acquiring an additional 196 shares in the last quarter. Finally, Woodward Diversified Capital LLC boosted its holdings in Parker-Hannifin by 9.2% during the 1st quarter. Woodward Diversified Capital LLC now owns 971 shares of the industrial products company’s stock worth $590,000 after acquiring an additional 82 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

About Parker-Hannifin

(Get Free Report)

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.

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