Citigroup Issues Pessimistic Forecast for Parker-Hannifin (NYSE:PH) Stock Price

Parker-Hannifin (NYSE:PH - Free Report) had its target price lowered by Citigroup from $795.00 to $665.00 in a report published on Monday, MarketBeat reports. Citigroup currently has a buy rating on the industrial products company's stock.

A number of other research firms also recently commented on PH. Stifel Nicolaus cut their target price on shares of Parker-Hannifin from $691.00 to $564.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company upped their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. UBS Group cut their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Finally, Barclays decreased their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and fourteen 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 an average price target of $705.35.

Parker-Hannifin Trading Up 0.3 %

PH stock traded up $1.76 during midday trading on Monday, reaching $561.21. 558,227 shares of the company traded hands, compared to its average volume of 712,584. The firm has a market capitalization of $72.24 billion, a price-to-earnings ratio of 23.23, a P/E/G ratio of 2.85 and a beta of 1.39. Parker-Hannifin has a 52-week low of $488.45 and a 52-week high of $718.44. The business has a 50 day moving average of $619.17 and a 200-day moving average of $648.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, sell-side analysts expect that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were issued a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.16%. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.99%.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently bought and sold shares of PH. Franklin Resources Inc. lifted its position in Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock valued at $415,409,000 after purchasing an additional 181,859 shares during the period. Howard Capital Management Group LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at about $23,390,000. SG Americas Securities LLC lifted its holdings in shares of Parker-Hannifin by 752.5% in the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company's stock valued at $15,507,000 after buying an additional 21,521 shares during the period. Columbus Macro LLC boosted its stake in shares of Parker-Hannifin by 485.2% in the fourth quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock worth $6,838,000 after buying an additional 8,914 shares during the last quarter. Finally, Congress Asset Management Co. grew its holdings in Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock worth $121,292,000 after acquiring an additional 25,605 shares during the period. 82.44% of the stock is currently 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.