KeyCorp Issues Positive Forecast for Parker-Hannifin (NYSE:PH) Stock Price

Parker-Hannifin (NYSE:PH - Free Report) had its price target lifted by KeyCorp from $735.00 to $790.00 in a research note published on Tuesday,Benzinga reports. KeyCorp currently has an overweight rating on the industrial products company's stock.

PH has been the topic of a number of other reports. Evercore ISI raised their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Stifel Nicolaus raised their target price on Parker-Hannifin from $670.00 to $709.00 and gave the stock a "hold" rating in a research note on Friday, July 11th. Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Mizuho set a $785.00 target price on Parker-Hannifin in a research note on Friday, May 16th. Finally, Wall Street Zen cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Five 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $739.12.

Parker-Hannifin Price Performance

PH traded up $13.25 during trading on Tuesday, reaching $723.47. The stock had a trading volume of 543,083 shares, compared to its average volume of 689,529. The stock has a market cap of $92.45 billion, a PE ratio of 27.86, a PEG ratio of 3.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. Parker-Hannifin has a one year low of $488.45 and a one year high of $743.22. The business has a 50-day moving average of $677.83 and a 200-day moving average of $647.31.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data 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. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. 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 firm earned $6.51 earnings per share. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a $1.80 dividend. The ex-dividend date of this dividend was Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a yield of 1.00%. Parker-Hannifin's dividend payout ratio (DPR) is 27.72%.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president directly owned 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company's stock.

Hedge Funds Weigh In On Parker-Hannifin

Several large investors have recently made changes to their positions in the business. First Manhattan CO. LLC. lifted its holdings in shares of Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after purchasing an additional 15 shares during the last quarter. Cascade Financial Partners LLC lifted its holdings in shares of Parker-Hannifin by 3.1% during the first quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock valued at $303,000 after purchasing an additional 15 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Parker-Hannifin by 0.8% during the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,814 shares of the industrial products company's stock valued at $1,103,000 after purchasing an additional 15 shares during the last quarter. Sivia Capital Partners LLC increased its position in shares of Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock valued at $300,000 after acquiring an additional 15 shares in the last quarter. Finally, Empowered Funds LLC increased its position in shares of Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock valued at $1,759,000 after acquiring an additional 15 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other 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.