Barclays Raises Parker-Hannifin (NYSE:PH) Price Target to $703.00

Parker-Hannifin (NYSE:PH) had its price objective boosted by Barclays from $650.00 to $703.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Several other research analysts also recently commented on the company. TD Cowen lifted their target price on Parker-Hannifin from $500.00 to $520.00 and gave the stock a hold rating in a research note on Wednesday, September 11th. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a buy rating in a research note on Wednesday. StockNews.com lowered shares of Parker-Hannifin from a buy rating to a hold rating in a research note on Tuesday, September 24th. Raymond James upped their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an outperform rating in a research report on Wednesday, September 4th. Finally, Evercore ISI upped their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an outperform rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $636.64.

Parker-Hannifin Stock Up 0.7 %

PH stock opened at $630.68 on Wednesday. The company has a market cap of $81.07 billion, a price-to-earnings ratio of 29.72, a P/E/G ratio of 2.57 and a beta of 1.43. Parker-Hannifin has a twelve month low of $362.49 and a twelve month high of $639.87. The business has a 50 day moving average price of $586.92 and a two-hundred day moving average price of $554.05. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period last year, the business earned $6.08 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. Analysts anticipate that Parker-Hannifin will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Insider Buying and Selling at Parker-Hannifin

In other news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Berend Bracht sold 850 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fidelis Capital Partners LLC raised its stake in Parker-Hannifin by 2.3% during the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after buying an additional 19 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares in the last quarter. GoalVest Advisory LLC lifted its stake in Parker-Hannifin by 40.0% in the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after buying an additional 20 shares during the period. American Trust boosted its holdings in shares of Parker-Hannifin by 3.2% during the 1st quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after buying an additional 20 shares in the last quarter. Finally, TFG Advisers LLC increased its stake in shares of Parker-Hannifin by 0.9% in the 2nd quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock valued at $1,098,000 after acquiring an additional 20 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.