Parker-Hannifin (NYSE:PH) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Parker-Hannifin (NYSE:PH) had its price objective boosted by Stifel Nicolaus from $630.00 to $670.00 in a report issued on Monday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.

Several other brokerages have also recently issued reports on PH. Mizuho set a $785.00 price objective on Parker-Hannifin in a research note on Friday, May 16th. Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. KeyCorp raised their target price on Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Citigroup cut their target price on Parker-Hannifin from $795.00 to $665.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Evercore ISI raised their target price on Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $720.94.

Parker-Hannifin Stock Performance

Shares of PH opened at $660.50 on Monday. The business’s fifty day moving average price is $612.52 and its 200 day moving average price is $645.84. Parker-Hannifin has a 12-month low of $488.45 and a 12-month high of $718.44. The stock has a market capitalization of $84.40 billion, a PE ratio of 27.34, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.99 billion. During the same period last year, the business posted $6.51 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. Equities research analysts forecast that Parker-Hannifin will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.09%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin’s dividend payout ratio (DPR) is 27.72%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president now directly owns 2,083 shares in the company, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently bought and sold shares of PH. Brighton Jones LLC raised its position in Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after acquiring an additional 101 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new position in Parker-Hannifin in the 4th quarter worth about $32,781,000. Mediolanum International Funds Ltd increased its stake in Parker-Hannifin by 8.0% in the 4th quarter. Mediolanum International Funds Ltd now owns 2,521 shares of the industrial products company’s stock worth $1,601,000 after purchasing an additional 186 shares in the last quarter. Independence Bank of Kentucky increased its stake in Parker-Hannifin by 26.1% in the 4th quarter. Independence Bank of Kentucky now owns 87 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 18 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in Parker-Hannifin by 3.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,746 shares of the industrial products company’s stock worth $2,383,000 after purchasing an additional 135 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

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.