Parker-Hannifin (NYSE: PH – Get Rating) had its price target reduced by Wells Fargo & Company from $ 334.00 to $ 301.00 in a research note released on Wednesday, MarketBeat.com reports. They currently have an overweight rating on the industrial products company stock.
Several other research analysts have also weighed in on the stock. Mizuho reduced their price objective on shares of Parker-Hannifin from $ 305.00 to $ 290.00 in a research note on Friday, May 6th. Jefferies Financial Group reduced their price objective on shares of Parker-Hannifin from $ 380.00 to $ 350.00 and set a buy rating on the stock in a research note on Friday, March 4th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Parker-Hannifin from $ 343.00 to $ 335.00 and set a hold rating on the stock in a research note on Thursday, April 14th. The Goldman Sachs Group cut their price target on shares of Parker-Hannifin from $ 346.00 to $ 287.00 and set a buy rating on the stock in a research note on Thursday, June 23rd. Finally, Stifel Nicolaus cut their price target on shares of Parker-Hannifin from $ 384.00 to $ 338.00 and set a buy rating on the stock in a research note on Monday, April 18th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $ 348.31.
Shares of NYSE: PH opened at $ 247.33 on Wednesday. Parker-Hannifin has a one year low of $ 230.44 and a one year high of $ 340.00. The company has a 50 day moving average of $ 265.15 and a 200-day moving average of $ 287.60. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.52 and a quick ratio of 1.09. The stock has a market cap of $ 31.75 billion, a price-to-earnings ratio of 19.13, a P / E / G ratio of 1.54 and a beta of 1.57.
Parker-Hannifin (NYSE: PH – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The industrial products company reported $ 4.83 earnings per share for the quarter, topping the consensus estimate of $ 4.61 by $ 0.22. Parker-Hannifin had a net margin of 10.82% and a return on equity of 27.07%. The business had revenue of $ 4.09 billion for the quarter, compared to analyst estimates of $ 4.07 billion. During the same quarter last year, the firm earned $ 4.11 EPS. Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities research analysts anticipate that Parker-Hannifin will post 18.23 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 3rd. Investors of record on Friday, May 13th were given a dividend of $ 1.33 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $ 1.03. The ex-dividend date was Thursday, May 12th. This represents a $ 5.32 annualized dividend and a yield of 2.15%. Parker-Hannifin’s dividend payout ratio is currently 41.14%.
In other news, Director James L. Wainscott acquired 2,000 shares of the stock in a transaction dated Friday, May 6th. The stock was bought at an average price of $ 267.78 per share, with a total value of $ 535,560.00. Following the completion of the purchase, the director now directly owns 17,280 shares of the company stock, valued at approximately $ 4,627,238.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James L. Wainscott acquired 1,000 shares of the stock in a transaction dated Monday, May 9th. The stock was purchased at an average cost of $ 273.44 per share, with a total value of $ 273,440.00. Following the purchase, the director now directly owns 18,280 shares of the company stock, valued at $ 4,998,483.20. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Brasada Capital Management LP acquired a new position in shares of Parker-Hannifin in the first quarter valued at approximately $ 874,000. Verition Fund Management LLC increased its position in Parker-Hannifin by 492.2% during the 1st quarter. Verition Fund Management LLC now owns 6,567 shares of the industrial products company stock valued at $ 1,863,000 after purchasing an additional 5,458 shares during the period. Walleye Capital LLC acquired a new stake in Parker-Hannifin during the 1st quarter valued at approximately $ 5,717,000. Midwest Wealth Management Inc. increased its position in Parker-Hannifin by 4.1% during the 1st quarter. Midwest Wealth Management Inc. now owns 6,515 shares of the industrial products company stock valued at $ 1,849,000 after purchasing an additional 257 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Parker-Hannifin by 21.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,174 shares of the industrial products company stock valued at $ 333,000 after purchasing an additional 211 shares during the period. 80.55% of the stock is owned by institutional investors.
Parker-Hannifin Company Profile: (Get Rating)
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 Company’s Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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