Stifel Nicolaus Raises Parker-Hannifin (NYSE:PH) Price Target to $691.00

Parker-Hannifin (NYSE:PH) had its target price boosted by Stifel Nicolaus from $633.00 to $691.00 in a report published on Wednesday, Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other analysts have also issued reports on PH. Evercore ISI increased their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an outperform rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft boosted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a buy rating in a research note on Friday, August 9th. Raymond James raised their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an outperform rating in a research report on Wednesday, September 4th. StockNews.com downgraded shares of Parker-Hannifin from a buy rating to a hold rating in a research report on Tuesday, September 24th. Finally, Barclays cut their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an overweight rating on the stock in a report on Tuesday, June 4th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Parker-Hannifin currently has an average rating of Moderate Buy and an average price target of $636.64.

Parker-Hannifin Trading Up 0.7 %

Shares of NYSE PH opened at $630.68 on Wednesday. The firm has a market capitalization of $81.07 billion, a PE ratio of 29.72, a PEG ratio of 2.57 and a beta of 1.43. Parker-Hannifin has a one year low of $362.49 and a one year high of $639.87. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $586.92 and a two-hundred day moving average price of $554.16.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the firm posted $6.08 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. As a group, analysts predict that Parker-Hannifin will post 26.63 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.03%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Insider Activity

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Hedge Funds Weigh In On Parker-Hannifin

A number of hedge funds and other institutional investors have recently made changes to their positions in PH. 1832 Asset Management L.P. boosted its stake in Parker-Hannifin by 305.0% in the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after buying an additional 231,788 shares in the last quarter. AMF Tjanstepension AB lifted its holdings in shares of Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after acquiring an additional 141,862 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Parker-Hannifin by 107.7% in the 2nd quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock valued at $137,437,000 after purchasing an additional 140,898 shares in the last quarter. Groupama Asset Managment bought a new stake in shares of Parker-Hannifin in the 4th quarter worth about $63,043,000. Finally, Congress Asset Management Co. MA increased its position in shares of Parker-Hannifin by 503.9% during the 1st quarter. Congress Asset Management Co. MA now owns 156,196 shares of the industrial products company’s stock worth $86,812,000 after purchasing an additional 130,331 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

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.