Parker-Hannifin Corp. (PH) Stock Rating Upgraded by Stifel Nicolaus
Parker-Hannifin Corp. (NYSE:PH) was upgraded by research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $141.00 target price on the stock, up from their previous target price of $131.00. Stifel Nicolaus’ target price suggests a potential upside of 13.11% from the stock’s previous close.
Several other equities research analysts have also recently weighed in on PH. Zacks Investment Research upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research note on Tuesday, June 21st. JPMorgan Chase & Co. cut Parker-Hannifin Corp. from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $110.00 to $98.00 in a research note on Monday, June 27th. Wells Fargo & Co. raised Parker-Hannifin Corp. from a “market perform” rating to an “outperform” rating in a report on Thursday, June 30th. Barclays PLC lifted their target price on Parker-Hannifin Corp. from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. Finally, Citigroup Inc. lifted their target price on Parker-Hannifin Corp. from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $116.12.
Shares of Parker-Hannifin Corp. (NYSE:PH) traded down 1.78% during midday trading on Wednesday, reaching $124.66. The company had a trading volume of 1,409,993 shares. The company has a market capitalization of $16.69 billion, a P/E ratio of 21.16 and a beta of 1.49. The company has a 50-day moving average price of $123.41 and a 200 day moving average price of $115.76. Parker-Hannifin Corp. has a one year low of $83.32 and a one year high of $128.24.
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Parker-Hannifin Corp. (NYSE:PH) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. Parker-Hannifin Corp. had a return on equity of 18.37% and a net margin of 7.10%. The business earned $2.96 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter last year, the business posted $1.73 EPS. The business’s revenue was down 6.0% on a year-over-year basis. Equities analysts anticipate that Parker-Hannifin Corp. will post $6.80 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 29th were paid a $0.63 dividend. The ex-dividend date was Thursday, August 25th. This represents a $2.52 annualized dividend and a yield of 2.02%. Parker-Hannifin Corp.’s dividend payout ratio (DPR) is currently 42.86%.
In other Parker-Hannifin Corp. news, COO Lee C. Banks sold 10,953 shares of the company’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $124.28, for a total transaction of $1,361,238.84. Following the completion of the sale, the chief operating officer now owns 99,977 shares in the company, valued at $12,425,141.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Martin C. Maxwell sold 893 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $120.62, for a total value of $107,713.66. Following the sale, the vice president now owns 39,451 shares of the company’s stock, valued at approximately $4,758,579.62. The disclosure for this sale can be found here. 2.73% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the company. Ngam Advisors L.P. acquired a new stake in shares of Parker-Hannifin Corp. during the first quarter valued at approximately $2,563,000. Teachers Advisors Inc. raised its stake in shares of Parker-Hannifin Corp. by 13.5% in the first quarter. Teachers Advisors Inc. now owns 165,643 shares of the company’s stock valued at $18,400,000 after buying an additional 19,717 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Parker-Hannifin Corp. by 0.8% in the first quarter. Prudential Financial Inc. now owns 172,245 shares of the company’s stock valued at $19,133,000 after buying an additional 1,370 shares in the last quarter. Rehmann Capital Advisory Group acquired a new stake in shares of Parker-Hannifin Corp. during the first quarter valued at approximately $202,000. Finally, BlackRock Group LTD raised its stake in shares of Parker-Hannifin Corp. by 4.1% in the first quarter. BlackRock Group LTD now owns 1,143,610 shares of the company’s stock valued at $127,034,000 after buying an additional 44,782 shares in the last quarter. Institutional investors own 80.67% of the company’s stock.
Parker-Hannifin Corp. Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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