Barclays Cuts Parker-Hannifin (NYSE:PH) Price Target to $750.00

Parker-Hannifin (NYSE:PH) had its target price reduced by Barclays from $791.00 to $750.00 in a research report released on Monday morning, MarketBeat reports. Barclays currently has an overweight rating on the industrial products company’s stock.

PH has been the topic of several other research reports. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. KeyCorp upped their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Finally, Jefferies Financial Group raised their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Trading Up 0.4 %

Shares of PH stock opened at $613.81 on Monday. The company has a market cap of $79.01 billion, a P/E ratio of 25.41, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a 50 day simple moving average of $663.37 and a two-hundred day simple moving average of $651.41.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that Parker-Hannifin will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Hedge Funds Weigh In On Parker-Hannifin

Several hedge funds have recently bought and sold shares of PH. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth $25,000. Millstone Evans Group LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $32,000. Finally, Prestige Wealth Management Group LLC increased its stake in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Hedge funds and other institutional investors 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.