Parker-Hannifin (NYSE:PH) Hits New 52-Week Low – Should You Sell?

Parker-Hannifin Co. (NYSE:PH)’s stock price hit a new 52-week low on Monday . The stock traded as low as $488.45 and last traded at $496.98, with a volume of 107957 shares. The stock had previously closed at $517.23.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Truist Financial increased their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday. StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Evercore ISI lifted their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Finally, Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Trading Up 1.5 %

The stock has a market cap of $67.56 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39. The business has a 50 day moving average of $649.18 and a 200-day moving average of $654.59. 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 (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, analysts anticipate that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were paid a $1.63 dividend. The ex-dividend date was Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 1.24%. Parker-Hannifin’s payout ratio is currently 26.99%.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds have recently made changes to their positions in the business. Quantinno Capital Management LP increased its stake in shares of Parker-Hannifin by 34.3% during the 3rd quarter. Quantinno Capital Management LP now owns 7,979 shares of the industrial products company’s stock valued at $5,042,000 after acquiring an additional 2,039 shares during the last quarter. Insigneo Advisory Services LLC grew its holdings in Parker-Hannifin by 10.4% in the third quarter. Insigneo Advisory Services LLC now owns 1,562 shares of the industrial products company’s stock valued at $987,000 after purchasing an additional 147 shares during the period. EP Wealth Advisors LLC increased its position in Parker-Hannifin by 25.7% during the third quarter. EP Wealth Advisors LLC now owns 3,432 shares of the industrial products company’s stock worth $2,168,000 after purchasing an additional 701 shares during the last quarter. National Bank of Canada FI raised its position in shares of Parker-Hannifin by 57.8% in the 3rd quarter. National Bank of Canada FI now owns 113,554 shares of the industrial products company’s stock worth $71,746,000 after buying an additional 41,577 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new stake in Parker-Hannifin during the third quarter worth about $159,000. 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.