Parker-Hannifin (NYSE:PH) Price Target Raised to $520.00 at TD Cowen

Parker-Hannifin (NYSE:PH) had its target price hoisted by TD Cowen from $500.00 to $520.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Other equities research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft lifted their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a buy rating in a research report on Friday, August 9th. Truist Financial reissued a buy rating and issued a $673.00 price objective (up previously from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Raymond James increased their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an outperform rating in a research report on Wednesday, September 4th. Barclays decreased their price objective on Parker-Hannifin from $618.00 to $610.00 and set an overweight rating for the company in a research note on Tuesday, June 4th. Finally, Robert W. Baird lifted their target price on Parker-Hannifin from $622.00 to $654.00 and gave the company an outperform rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $624.43.

Parker-Hannifin Trading Up 0.6 %

Shares of PH stock opened at $591.33 on Wednesday. The company has a market cap of $76.05 billion, a PE ratio of 27.87, a price-to-earnings-growth ratio of 2.37 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The stock’s 50 day simple moving average is $562.14 and its two-hundred day simple moving average is $545.02. Parker-Hannifin has a 1 year low of $362.49 and a 1 year high of $601.30.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period last year, the company earned $6.08 earnings per share. Parker-Hannifin’s revenue was up 1.8% on a year-over-year basis. Research analysts predict that Parker-Hannifin will post 26.67 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.10%. Parker-Hannifin’s payout ratio is currently 30.73%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.

Hedge Funds Weigh In On Parker-Hannifin

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fidelis Capital Partners LLC increased its holdings in Parker-Hannifin by 2.3% in the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after buying an additional 19 shares in the last quarter. Harbor Investment Advisory LLC grew its position in shares of Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares during the period. GoalVest Advisory LLC increased its stake in shares of Parker-Hannifin by 40.0% in the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 20 shares in the last quarter. American Trust raised its holdings in Parker-Hannifin by 3.2% in the 1st quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after purchasing an additional 20 shares during the period. Finally, TFG Advisers LLC boosted its position in Parker-Hannifin by 0.9% during the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 20 shares in the last quarter. 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.