Parker-Hannifin Corp. (PH) Given New $148.00 Price Target at KeyCorp
Parker-Hannifin Corp. (NYSE:PH) had its target price increased by equities researchers at KeyCorp from $136.00 to $148.00 in a report released on Tuesday. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s target price points to a potential upside of 8.07% from the company’s current price.
PH has been the topic of a number of other research reports. Zacks Investment Research upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Tuesday, October 4th. Morgan Stanley upgraded Parker-Hannifin Corp. from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $118.00 to $139.00 in a research report on Monday, November 7th. TheStreet lowered Parker-Hannifin Corp. from a “buy” rating to a “hold” rating in a research report on Friday, October 21st. Stifel Nicolaus upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and upped their target price for the company from $131.00 to $141.00 in a research report on Wednesday, October 5th. Finally, Avondale Partners reiterated a “market perform” rating on shares of Parker-Hannifin Corp. in a research report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. Parker-Hannifin Corp. has a consensus rating of “Hold” and a consensus price target of $123.80.
Parker-Hannifin Corp. (NYSE:PH) traded up 0.14% during midday trading on Tuesday, reaching $136.95. 623,744 shares of the company traded hands. Parker-Hannifin Corp. has a 1-year low of $83.32 and a 1-year high of $140.07. The firm has a 50-day moving average of $128.21 and a 200-day moving average of $119.84. The stock has a market capitalization of $18.27 billion, a P/E ratio of 22.71 and a beta of 1.23.
Parker-Hannifin Corp. (NYSE:PH) last issued its quarterly earnings results on Friday, October 21st. The company reported $1.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.56 by $0.05. Parker-Hannifin Corp. had a return on equity of 18.74% and a net margin of 7.32%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same quarter in the previous year, the firm earned $1.52 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Corp. will post $6.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Thursday, November 10th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Tuesday, November 8th. Parker-Hannifin Corp.’s dividend payout ratio is currently 41.86%.
In related news, VP Robert W. Bond sold 14,043 shares of the 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 2.73% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Parker-Hannifin Corp. during the third quarter valued at about $105,000. Piedmont Investment Advisors LLC bought a new stake in shares of Parker-Hannifin Corp. during the third quarter valued at about $5,523,000. Colony Group LLC acquired a new position in Parker-Hannifin Corp. during the third quarter worth $277,000. LPL Financial LLC boosted 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 worth $511,000 after buying an additional 187 shares in the last quarter. Finally, Cullen Capital Management LLC acquired a new position in Parker-Hannifin Corp. during the third quarter worth $411,000. Institutional investors own 78.46% 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.