Parker-Hannifin Corp (NYSE:PH)‘s stock had its “hold” rating reaffirmed by equities researchers at Jefferies Group LLC in a research report issued on Friday. They presently have a $145.00 price target on the stock. Jefferies Group LLC’s price objective points to a potential downside of 8.37% from the company’s current price.
Several other research analysts have also weighed in on the stock. Zacks Investment Research raised shares of Parker-Hannifin Corp from a “hold” rating to a “buy” rating and set a $154.00 price objective on the stock in a research note on Wednesday, November 23rd. BMO Capital Markets raised shares of Parker-Hannifin Corp from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $125.00 to $175.00 in a research note on Friday, January 13th. JPMorgan Chase & Co. raised shares of Parker-Hannifin Corp from a “neutral” rating to an “overweight” rating and set a $173.00 price objective on the stock in a research note on Wednesday, February 22nd. Barclays PLC reissued a “hold” rating and set a $138.00 price objective on shares of Parker-Hannifin Corp in a research note on Wednesday, January 18th. Finally, KeyCorp lifted their price objective on shares of Parker-Hannifin Corp from $136.00 to $148.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 29th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $154.24.
Shares of Parker-Hannifin Corp (NYSE:PH) opened at 158.24 on Friday. The company has a market capitalization of $21.09 billion, a P/E ratio of 24.41 and a beta of 1.28. Parker-Hannifin Corp has a 52-week low of $99.10 and a 52-week high of $160.23. The firm has a 50-day moving average of $153.84 and a 200 day moving average of $137.93.
Parker-Hannifin Corp (NYSE:PH) last issued its earnings results on Thursday, February 2nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.52. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. Parker-Hannifin Corp had a net margin of 7.86% and a return on equity of 20.08%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. On average, analysts anticipate that Parker-Hannifin Corp will post $7.45 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Friday, February 10th were issued a dividend of $0.66 per share. This is an increase from Parker-Hannifin Corp’s previous quarterly dividend of $0.63. This represents a $2.64 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Wednesday, February 8th. Parker-Hannifin Corp’s dividend payout ratio (DPR) is 40.80%.
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In other Parker-Hannifin Corp news, COO Lee C. Banks sold 9,593 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $157.25, for a total transaction of $1,508,499.25. Following the sale, the chief operating officer now directly owns 81,817 shares in the company, valued at approximately $12,865,723.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jon P. Marten sold 7,913 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $155.68, for a total transaction of $1,231,895.84. Following the sale, the executive vice president now owns 44,413 shares in the company, valued at $6,914,215.84. The disclosure for this sale can be found here. Insiders have sold a total of 23,749 shares of company stock worth $3,725,432 over the last 90 days. Corporate insiders own 2.73% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. Dodge & Cox bought a new stake in shares of Parker-Hannifin Corp during the fourth quarter valued at approximately $647,000. Norges Bank bought a new stake in shares of Parker-Hannifin Corp during the fourth quarter valued at approximately $356,535,000. Assenagon Asset Management S.A. bought a new stake in shares of Parker-Hannifin Corp during the fourth quarter valued at approximately $13,523,000. Putnam Investments LLC increased its stake in shares of Parker-Hannifin Corp by 13.6% in the fourth quarter. Putnam Investments LLC now owns 57,964 shares of the company’s stock valued at $8,115,000 after buying an additional 6,917 shares during the period. Finally, Sandler Capital Management bought a new stake in shares of Parker-Hannifin Corp during the fourth quarter valued at approximately $4,886,000. Hedge funds and other institutional investors own 82.72% 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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