Parker-Hannifin (NYSE:PH) Price Target Raised to $625.00

Parker-Hannifin (NYSE:PH) had its target price lifted by Barclays from $558.00 to $625.00 in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other analysts have also recently issued reports on PH. TD Cowen raised Parker-Hannifin from an underperform rating to a market perform rating and upped their target price for the company from $300.00 to $500.00 in a research report on Friday, March 1st. The Goldman Sachs Group reaffirmed a buy rating and set a $551.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Wells Fargo & Company upped their price objective on Parker-Hannifin from $450.00 to $510.00 and gave the company an overweight rating in a research note on Tuesday, December 19th. Stifel Nicolaus reaffirmed a buy rating and set a $588.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, March 5th. Finally, Truist Financial assumed coverage on Parker-Hannifin in a research note on Thursday, March 14th. They set a buy rating and a $602.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of Moderate Buy and an average price target of $511.31.

Parker-Hannifin Stock Down 0.5 %

Shares of NYSE PH opened at $555.65 on Tuesday. The stock has a market cap of $71.35 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.02 and a beta of 1.52. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. Parker-Hannifin has a 52-week low of $308.26 and a 52-week high of $570.15. The business has a 50-day moving average price of $527.01 and a 200 day moving average price of $459.15.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. The firm had revenue of $4.82 billion during the quarter, compared to analysts’ expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The business’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $4.76 EPS. Equities research analysts forecast that Parker-Hannifin will post 24.2 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 9th were issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is currently 29.31%.

Insider Buying and Selling

In related news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Parker-Hannifin news, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the sale, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The disclosure for this sale can be found here. Insiders have sold a total of 12,079 shares of company stock worth $6,099,566 in the last quarter. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

A number of large investors have recently bought and sold shares of PH. Cetera Advisor Networks LLC grew its holdings in Parker-Hannifin by 8.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock valued at $425,000 after buying an additional 112 shares during the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Parker-Hannifin by 69.8% during the first quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 1,591 shares during the last quarter. Prudential PLC acquired a new stake in shares of Parker-Hannifin during the first quarter worth $687,000. Moors & Cabot Inc. boosted its holdings in shares of Parker-Hannifin by 270.8% during the first quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Parker-Hannifin by 2.0% during the first quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock worth $2,794,892,000 after purchasing an additional 190,889 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

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.