Stifel Nicolaus Upgrades Parker-Hannifin Corp. (PH) to Buy
Parker-Hannifin Corp. (NYSE:PH) was upgraded by Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued 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 would suggest a potential upside of 14.03% from the stock’s current price.
Other equities analysts have also issued reports about the stock. Jefferies Group restated a “hold” rating on shares of Parker-Hannifin Corp. in a research note on Monday, September 12th. JPMorgan Chase & Co. downgraded shares of Parker-Hannifin Corp. from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $110.00 to $98.00 in a research note on Monday, June 27th. Deutsche Bank AG restated a “hold” rating and set a $109.00 price objective on shares of Parker-Hannifin Corp. in a research note on Thursday, August 25th. Zacks Investment Research upgraded shares of 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. Finally, KeyCorp restated a “buy” rating and set a $136.00 price objective on shares of Parker-Hannifin Corp. in a research note on Thursday, September 8th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $116.12.
Parker-Hannifin Corp. (NYSE:PH) opened at 123.65 on Wednesday. The company has a market capitalization of $16.56 billion, a price-to-earnings ratio of 20.99 and a beta of 1.49. Parker-Hannifin Corp. has a 1-year low of $83.32 and a 1-year high of $126.59. The stock has a 50 day moving average price of $123.23 and a 200-day moving average price of $115.50.
Parker-Hannifin Corp. (NYSE:PH) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.75 by $0.15. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. The business earned $2.96 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the prior year, the company earned $1.73 EPS. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. Equities analysts predict that Parker-Hannifin Corp. will post $6.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 29th were given a $0.63 dividend. The ex-dividend date was Thursday, August 25th. This represents a $2.52 dividend on an annualized basis and a yield of 2.04%. Parker-Hannifin Corp.’s dividend payout ratio is currently 42.86%.
In other Parker-Hannifin Corp. news, VP Kurt A. Keller sold 757 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $122.12, for a total value of $92,444.84. Following the sale, the vice president now owns 28,904 shares in the company, valued at $3,529,756.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Catherine A. Suever sold 1,019 shares of the firm’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $123.29, for a total transaction of $125,632.51. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Parker-Hannifin Corp. by 1.4% in the second quarter. Vanguard Group Inc. now owns 8,825,955 shares of the company’s stock worth $953,645,000 after buying an additional 118,306 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Parker-Hannifin Corp. by 1.8% in the second quarter. BlackRock Fund Advisors now owns 2,092,606 shares of the company’s stock worth $226,106,000 after buying an additional 37,187 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Parker-Hannifin Corp. by 40.0% in the second quarter. TIAA CREF Investment Management LLC now owns 1,498,918 shares of the company’s stock worth $161,958,000 after buying an additional 428,032 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Parker-Hannifin Corp. by 25.6% in the second quarter. American Century Companies Inc. now owns 1,369,527 shares of the company’s stock worth $147,977,000 after buying an additional 279,278 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. bought a new stake in shares of Parker-Hannifin Corp. during the second quarter worth $103,826,000. Hedge funds and other 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.
Receive News & Stock Ratings for Parker-Hannifin Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corp. and related stocks with our FREE daily email newsletter.