Parker-Hannifin Corp. (PH) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Parker-Hannifin Corp. (NYSE:PH) from a hold rating to a buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $153.00 price objective on the stock.
According to Zacks, “Year-to-date, Parker-Hannifin’s shares have recorded an average return of 41.0%, almost double compared with the Zacks categorized General Industrial industry average of 22.7%. Encouragingly, the company has a robust earnings surprise history, with consecutive earnings beats in the four trailing quarters largely driven by the Win Strategy. The company believes this strategy will help deliver a compound annual growth rate of 8% in earnings per share, over the next five years. Going forward, the company expects to gain some traction from improving demand and incremental savings from its realignment actions. The company’s robust financial health, strategic acquisitions and diligent capital deployment strategies add to its strength. However, on the flip side, prolonged sluggishness in the natural resources market and softness in key end-markets are proving to be major concerns for the company.”
A number of other research firms have also commented on PH. Jefferies Group reiterated a hold rating on shares of Parker-Hannifin Corp. in a research note on Monday, September 12th. Stifel Nicolaus upgraded Parker-Hannifin Corp. from a hold rating to a buy rating and boosted their price target for the company from $131.00 to $141.00 in a research note on Wednesday, October 5th. Deutsche Bank AG restated a hold rating and set a $109.00 price target on shares of Parker-Hannifin Corp. in a research note on Thursday, August 25th. TheStreet lowered Parker-Hannifin Corp. from a buy rating to a hold rating in a research note on Friday, October 21st. Finally, KeyCorp restated a buy rating and set a $136.00 price target on shares of Parker-Hannifin Corp. in a research note on Thursday, September 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $123.80.
Shares of Parker-Hannifin Corp. (NYSE:PH) opened at 136.95 on Tuesday. Parker-Hannifin Corp. has a one year low of $83.32 and a one year high of $140.07. The company has a 50 day moving average price of $128.21 and a 200 day moving average price of $119.84. The company has a market cap of $18.27 billion, a P/E ratio of 22.71 and a beta of 1.23.
Parker-Hannifin Corp. (NYSE:PH) last posted its quarterly earnings data on Friday, October 21st. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.05. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. Equities research analysts expect that Parker-Hannifin Corp. will post $6.82 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 10th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, November 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.84%. Parker-Hannifin Corp.’s dividend payout ratio is 41.86%.
In other news, VP Robert W. Bond sold 14,043 shares of the stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $124.51, for a total transaction of $1,748,493.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.73% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. LPL Financial LLC increased its stake in shares of Parker-Hannifin Corp. by 9.0% in the first quarter. LPL Financial LLC now owns 8,004 shares of the company’s stock valued at $873,000 after buying an additional 661 shares during the period. Arizona State Retirement System increased its stake in shares of Parker-Hannifin Corp. by 1.7% in the first quarter. Arizona State Retirement System now owns 36,624 shares of the company’s stock valued at $4,068,000 after buying an additional 600 shares during the period. Euclid Advisors LLC increased its stake in shares of Parker-Hannifin Corp. by 28.5% in the first quarter. Euclid Advisors LLC now owns 35,079 shares of the company’s stock valued at $3,897,000 after buying an additional 7,770 shares during the period. First Republic Investment Management Inc. increased its stake in shares of Parker-Hannifin Corp. by 40.9% in the first quarter. First Republic Investment Management Inc. now owns 8,739 shares of the company’s stock valued at $971,000 after buying an additional 2,538 shares during the period. Finally, BlueMountain Capital Management LLC bought a new stake in shares of Parker-Hannifin Corp. during the first quarter valued at about $749,000. Institutional investors and hedge funds 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.
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