Parker-Hannifin (NYSE:PH) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Parker-Hannifin (NYSE:PHGet Rating) in a research note published on Thursday. The firm issued a hold rating on the industrial products company’s stock.

A number of other brokerages have also commented on PH. Robert W. Baird upped their price target on shares of Parker-Hannifin from $385.00 to $403.00 in a research note on Thursday, February 2nd. Mizuho upped their price target on shares of Parker-Hannifin from $300.00 to $310.00 and gave the company a neutral rating in a research note on Friday, January 13th. Barclays boosted their price objective on shares of Parker-Hannifin from $343.00 to $400.00 and gave the company an overweight rating in a report on Sunday, February 5th. Credit Suisse Group boosted their price objective on shares of Parker-Hannifin from $417.00 to $446.00 and gave the company an outperform rating in a report on Friday, February 3rd. Finally, Citigroup boosted their price objective on shares of Parker-Hannifin from $320.00 to $360.00 and gave the company a neutral rating in a report on Tuesday, February 7th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $363.25.

Parker-Hannifin Stock Down 2.9 %

Parker-Hannifin stock opened at $304.92 on Thursday. The firm has a market capitalization of $39.11 billion, a PE ratio of 31.50, a P/E/G ratio of 1.36 and a beta of 1.51. The company’s 50-day moving average is $334.90 and its 200-day moving average is $299.72. Parker-Hannifin has a fifty-two week low of $230.44 and a fifty-two week high of $364.57. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.28 and a quick ratio of 0.73.

Parker-Hannifin (NYSE:PHGet Rating) last announced its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $4.76 EPS for the quarter, beating analysts’ consensus estimates of $4.45 by $0.31. Parker-Hannifin had a net margin of 7.33% and a return on equity of 28.23%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.44 billion. During the same quarter in the prior year, the business earned $4.46 EPS. Parker-Hannifin’s quarterly revenue was up 22.2% on a year-over-year basis. Sell-side analysts anticipate that Parker-Hannifin will post 19.6 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, March 3rd were issued a dividend of $1.33 per share. This represents a $5.32 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Thursday, February 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 54.96%.

Insider Activity at Parker-Hannifin

In related news, Chairman Thomas L. Williams sold 38,098 shares of the stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $352.63, for a total value of $13,434,497.74. Following the completion of the transaction, the chairman now owns 229,027 shares of the company’s stock, valued at approximately $80,761,791.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Chairman Thomas L. Williams sold 38,098 shares of the stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $352.63, for a total value of $13,434,497.74. Following the completion of the transaction, the chairman now owns 229,027 shares of the company’s stock, valued at approximately $80,761,791.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Lee C. Banks sold 16,426 shares of the stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $337.42, for a total transaction of $5,542,460.92. Following the completion of the transaction, the insider now directly owns 110,476 shares of the company’s stock, valued at approximately $37,276,811.92. The disclosure for this sale can be found here. Insiders sold a total of 62,454 shares of company stock valued at $21,706,490 in the last quarter. Insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

Several institutional investors and hedge funds have recently added to or reduced their stakes in PH. Norges Bank acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $519,286,000. Franklin Resources Inc. increased its position in Parker-Hannifin by 5,318.4% in the 2nd quarter. Franklin Resources Inc. now owns 1,340,617 shares of the industrial products company’s stock valued at $329,859,000 after acquiring an additional 1,315,875 shares during the period. Neuberger Berman Group LLC increased its position in Parker-Hannifin by 1,969.7% in the 3rd quarter. Neuberger Berman Group LLC now owns 736,343 shares of the industrial products company’s stock valued at $178,442,000 after acquiring an additional 700,766 shares during the period. First Trust Advisors LP increased its position in Parker-Hannifin by 954.0% in the 3rd quarter. First Trust Advisors LP now owns 707,749 shares of the industrial products company’s stock valued at $171,494,000 after acquiring an additional 640,598 shares during the period. Finally, Kestra Advisory Services LLC increased its position in Parker-Hannifin by 10,560.6% in the 4th quarter. Kestra Advisory Services LLC now owns 606,271 shares of the industrial products company’s stock valued at $176,425,000 after acquiring an additional 600,584 shares during the period. 81.32% of the stock is currently owned by institutional investors and hedge funds.

About Parker-Hannifin

(Get Rating)

Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace Systems segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.

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Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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