Parker-Hannifin (NYSE:PH) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Parker-Hannifin (NYSE:PH) had its price target lowered by JPMorgan Chase & Co. from $1,140.00 to $1,131.00 in a research note published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the industrial products company’s stock.

Several other research analysts have also commented on PH. Susquehanna boosted their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. BMO Capital Markets restated an “outperform” rating and issued a $1,214.00 price objective (up from $1,068.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Wall Street Zen downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Citigroup lifted their target price on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Sanford C. Bernstein lifted their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Eighteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,158.57.

Parker-Hannifin Price Performance

NYSE:PH opened at $961.43 on Friday. The firm has a market capitalization of $121.25 billion, a price-to-earnings ratio of 33.75, a P/E/G ratio of 2.73 and a beta of 1.12. Parker-Hannifin has a 52-week low of $715.37 and a 52-week high of $1,099.94. The stock has a fifty day moving average of $986.94 and a 200 day moving average of $948.50. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the previous year, the business earned $7.69 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, research analysts expect that Parker-Hannifin will post 35.06 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were given a dividend of $2.00 per share. The ex-dividend date was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 28.08%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the sale, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. The trade was a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Parker-Hannifin

A number of hedge funds and other institutional investors have recently modified their holdings of PH. BlackRock Inc. bought a new stake in Parker-Hannifin in the 2nd quarter worth $10,163,362,000. State Street Corp increased its position in shares of Parker-Hannifin by 0.5% in the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after acquiring an additional 42,548 shares during the period. Bank of America Corp DE purchased a new position in shares of Parker-Hannifin in the second quarter valued at about $3,273,507,000. Nuveen LLC raised its stake in shares of Parker-Hannifin by 7.4% during the fourth quarter. Nuveen LLC now owns 1,367,683 shares of the industrial products company’s stock valued at $1,202,139,000 after acquiring an additional 94,343 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Parker-Hannifin by 2.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock valued at $1,010,341,000 after acquiring an additional 25,167 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.