Parker-Hannifin Corp. (PH) Receives $124.18 Consensus Price Target from Analysts
Parker-Hannifin Corp. (NYSE:PH) has received an average recommendation of “Hold” from the nineteen analysts that are presently covering the stock. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $126.83.
A number of brokerages have recently commented on PH. Zacks Investment Research upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Tuesday, October 4th. Morgan Stanley upgraded Parker-Hannifin Corp. from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $118.00 to $139.00 in a report on Monday, November 7th. TheStreet cut Parker-Hannifin Corp. from a “buy” rating to a “hold” rating in a report on Friday, October 21st. Stifel Nicolaus upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and lifted their target price for the stock from $131.00 to $141.00 in a report on Wednesday, October 5th. Finally, Avondale Partners reiterated a “market perform” rating on shares of Parker-Hannifin Corp. in a report on Monday, October 10th.
In other news, VP Robert W. Bond sold 14,043 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $124.51, for a total value of $1,748,493.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.73% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC raised its position in Parker-Hannifin Corp. by 4.7% in the third quarter. LPL Financial LLC now owns 4,125 shares of the company’s stock valued at $511,000 after buying an additional 187 shares during the last quarter. Cullen Capital Management LLC acquired a new position in shares of Parker-Hannifin Corp. during the third quarter valued at about $411,000. Credit Suisse AG raised its position in shares of Parker-Hannifin Corp. by 14.0% in the third quarter. Credit Suisse AG now owns 262,569 shares of the company’s stock valued at $32,960,000 after buying an additional 32,153 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of Parker-Hannifin Corp. during the third quarter valued at about $752,000. Finally, Robecosam AG acquired a new position in shares of Parker-Hannifin Corp. during the third quarter valued at about $20,303,000. 80.62% of the stock is owned by hedge funds and other institutional investors.
Parker-Hannifin Corp. (NYSE:PH) opened at 137.81 on Monday. Parker-Hannifin Corp. has a 12-month low of $83.32 and a 12-month high of $140.07. The firm has a 50-day moving average price of $125.74 and a 200-day moving average price of $118.51. The company has a market cap of $18.38 billion, a P/E ratio of 22.85 and a beta of 1.23.
Parker-Hannifin Corp. (NYSE:PH) last released its quarterly earnings results on Friday, October 21st. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.05. The business earned $2.74 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Parker-Hannifin Corp. had a return on equity of 18.74% and a net margin of 7.32%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 EPS. On average, equities research analysts forecast that Parker-Hannifin Corp. will post $6.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 10th will be given a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Tuesday, November 8th. Parker-Hannifin Corp.’s payout ratio is 41.86%.
About Parker-Hannifin Corp.
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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