Parker-Hannifin (NYSE:PH) Price Target Raised to $630.00 at Stifel Nicolaus

Parker-Hannifin (NYSE:PH - Free Report) had its target price raised by Stifel Nicolaus from $564.00 to $630.00 in a research report sent to investors on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the industrial products company's stock.

Other equities analysts also recently issued research reports about the company. Truist Financial lowered their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Barclays reduced their price objective 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. KeyCorp dropped their target price on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $711.88.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded down $1.42 during trading on Friday, reaching $617.60. 617,012 shares of the company traded hands, compared to its average volume of 714,157. The stock has a market cap of $79.50 billion, a P/E ratio of 25.56, a PEG ratio of 2.85 and a beta of 1.36. The firm's fifty day simple moving average is $600.70 and its 200 day simple moving average is $645.75. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin has a 12-month low of $488.45 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Parker-Hannifin's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $6.51 earnings per share. As a group, research analysts anticipate that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 1.17%. 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 payout ratio is presently 27.72%.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its holdings in Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock valued at $886,000 after buying an additional 15 shares during the period. FFT Wealth Management LLC raised its stake in shares of Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after acquiring an additional 15 shares during the period. GenTrust LLC lifted its holdings in shares of Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock worth $333,000 after acquiring an additional 15 shares during the last quarter. First Manhattan CO. LLC. boosted its position in shares of Parker-Hannifin by 1.0% during the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after purchasing an additional 15 shares during the period. Finally, Grove Bank & Trust raised its position in Parker-Hannifin by 11.9% in the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock valued at $95,000 after purchasing an additional 16 shares during the period. 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.