Parker-Hannifin (NYSE:PH) Given New $618.00 Price Target at Barclays

Parker-Hannifin (NYSE:PH) had its price target decreased by Barclays from $625.00 to $618.00 in a research report released on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the industrial products company’s stock.

A number of other analysts have also issued reports on the stock. KeyCorp increased their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Truist Financial began coverage on shares of Parker-Hannifin in a research report on Thursday, March 14th. They issued a buy rating and a $602.00 price target for the company. Evercore ISI increased their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an outperform rating in a research report on Tuesday, February 20th. Mizuho increased their price target on shares of Parker-Hannifin from $490.00 to $550.00 and gave the stock a neutral rating in a research report on Friday. Finally, Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a buy rating in a research report on Wednesday, April 3rd. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of Moderate Buy and a consensus price target of $539.56.

Parker-Hannifin Stock Performance

Shares of PH opened at $550.79 on Friday. Parker-Hannifin has a one year low of $319.14 and a one year high of $570.15. The company has a 50-day moving average of $545.36 and a two-hundred day moving average of $485.16. The stock has a market cap of $70.73 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.94 and a beta of 1.51. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the company posted $5.93 earnings per share. On average, equities research analysts expect that Parker-Hannifin will post 24.62 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be given a $1.63 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.18%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.90%.

Hedge Funds Weigh In On Parker-Hannifin

Institutional investors have recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Parker-Hannifin in the third quarter worth $25,000. Sachetta LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new stake in Parker-Hannifin during the fourth quarter worth $26,000. Baystate Wealth Management LLC boosted its stake in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares in the last quarter. Finally, First United Bank & Trust acquired a new stake in Parker-Hannifin during the fourth quarter worth $29,000. Institutional investors own 82.44% of the company’s stock.

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 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.