Parker-Hannifin (NYSE:PH) Given New $550.00 Price Target at Mizuho

Parker-Hannifin (NYSE:PH) had its price objective lifted by Mizuho from $490.00 to $550.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the industrial products company’s stock.

A number of other brokerages also recently commented on PH. TD Cowen raised shares of Parker-Hannifin from an underperform rating to a market perform rating and boosted their price objective for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Truist Financial started coverage on Parker-Hannifin in a research report on Thursday, March 14th. They set a buy rating and a $602.00 price target on the stock. Barclays upped their price target on Parker-Hannifin from $558.00 to $625.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Finally, KeyCorp upped their price target on Parker-Hannifin from $575.00 to $640.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $539.56.

Parker-Hannifin Stock Up 2.7 %

Shares of NYSE:PH opened at $550.79 on Friday. The business has a 50 day simple moving average of $545.36 and a two-hundred day simple moving average of $485.16. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. Parker-Hannifin has a 1 year low of $319.14 and a 1 year high of $570.15. The firm has a market capitalization of $70.73 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 1.94 and a beta of 1.51.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The firm had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the previous year, the firm posted $5.93 earnings per share. The company’s revenue was up .3% on a year-over-year basis. On average, equities analysts predict that Parker-Hannifin will post 24.62 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is 27.90%.

Institutional Trading of Parker-Hannifin

A number of hedge funds have recently bought and sold shares of PH. Norges Bank acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $665,188,000. Alphinity Investment Management Pty Ltd acquired a new stake in Parker-Hannifin in the 3rd quarter valued at about $310,208,000. FMR LLC raised its holdings in Parker-Hannifin by 9.6% in the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after acquiring an additional 324,063 shares during the last quarter. Kodai Capital Management LP acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $122,449,000. Finally, International Assets Investment Management LLC raised its holdings in Parker-Hannifin by 65,634.7% in the 4th quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock valued at $101,149,000 after acquiring an additional 219,220 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.