Parker-Hannifin (NYSE:PH) PT Raised to $629.00

Parker-Hannifin (NYSE:PH - Free Report) had its price objective hoisted by Stifel Nicolaus from $588.00 to $629.00 in a report issued on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the industrial products company's stock.

Several other brokerages have also weighed in on PH. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $450.00 to $510.00 and gave the company an overweight rating in a research report on Tuesday, December 19th. TD Cowen raised shares of Parker-Hannifin from an underperform rating to a market perform rating and raised their price objective 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 report on Tuesday, January 2nd. Wolfe Research reaffirmed a peer perform rating on shares of Parker-Hannifin in a research report on Monday, December 11th. Finally, KeyCorp lifted their price target on shares of Parker-Hannifin from $500.00 to $575.00 and gave the company an overweight rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $511.31.

Parker-Hannifin Stock Up 2.1 %

Shares of PH stock traded up $11.62 during trading on Wednesday, hitting $559.06. 564,502 shares of the company were exchanged, compared to its average volume of 602,055. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The firm has a market capitalization of $71.79 billion, a price-to-earnings ratio of 27.59, a P/E/G ratio of 2.03 and a beta of 1.52. The business's 50-day simple moving average is $525.12 and its 200 day simple moving average is $458.44. Parker-Hannifin has a twelve month low of $308.26 and a twelve month high of $561.13.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, topping the consensus estimate of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to analysts' expectations of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The firm's quarterly revenue was up 3.1% compared to the same quarter last year. During the same period last year, the company posted $4.76 earnings per share. As a group, analysts forecast that Parker-Hannifin will post 24.2 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a dividend of $1.48 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $5.92 dividend on an annualized basis and a yield of 1.06%. Parker-Hannifin's dividend payout ratio is currently 29.31%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Thomas C. Gentile sold 2,978 shares of the business's 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $502.94, for a total transaction of $2,613,779.18. Following the completion of the sale, the executive vice president now owns 7,063 shares in the company, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. Insiders have sold 12,079 shares of company stock worth $6,099,566 over the last 90 days. Corporate insiders own 1.03% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. OFI Invest Asset Management bought a new stake in shares of Parker-Hannifin in the 3rd quarter valued at about $25,000. Sachetta LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $26,000. Baystate Wealth Management LLC grew its position in shares of Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 49 shares during the period. Finally, DHJJ Financial Advisors Ltd. acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at approximately $29,000. 82.44% of the stock is 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.