Parker-Hannifin Corp Upgraded by Robert W. Baird to “Outperform” (PH)
Parker-Hannifin Corp (NYSE:PH) was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $122.00 target price on the stock, up from their previous target price of $101.00. Robert W. Baird’s price objective suggests a potential upside of 4.79% from the stock’s previous close.
Shares of Parker-Hannifin Corp (NYSE:PH) traded up 1.76% during mid-day trading on Monday, hitting $116.42. 1,881,327 shares of the company’s stock traded hands. Parker-Hannifin Corp has a one year low of $75.80 and a one year high of $107.26. The stock has a 50-day moving average of $103.3 and a 200-day moving average of $96.98. The company has a market cap of $17.374 billion and a P/E ratio of 18.16.
Parker-Hannifin Corp (NYSE:PH) last issued its quarterly earnings data on Friday, October 18th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.13. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. The company’s revenue for the quarter was up .5% on a year-over-year basis. Analysts expect that Parker-Hannifin Corp will post $6.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 6th. Investors of record on Friday, November 8th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Wednesday, November 6th.
In other Parker-Hannifin Corp news, CFO Jon P. Marten sold 10,000 shares of the stock on the open market in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $114.71, for a total value of $1,147,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of other firms have also recently commented on PH. Analysts at Zacks downgraded shares of Parker-Hannifin Corp from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, October 4th. They now have a $99.00 price target on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Parker-Hannifin Corp from $115.00 to $118.00 in a research note to investors on Tuesday, September 24th. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Parker-Hannifin Corp in a research note to investors on Thursday, September 5th. They set an “underweight” rating and a $92.00 price target on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $97.60.
Parker-Hannifin Corporation (NYSE:PH) is a full-line diversified manufacturer of motion and control technologies and systems, including fluid power systems, electromechanical controls and related components.
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