Parker-Hannifin (NYSE:PH) Given New $715.00 Price Target at Mizuho

Parker-Hannifin (NYSE:PH) had its target price increased by Mizuho from $665.00 to $715.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the industrial products company’s stock.

PH has been the topic of a number of other reports. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. KeyCorp increased their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Raymond James boosted their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Truist Financial increased their target price on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $660.57.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $640.44 on Thursday. The company has a 50-day simple moving average of $606.31 and a 200-day simple moving average of $559.96. 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 company has a market cap of $82.32 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.61 and a beta of 1.43. Parker-Hannifin has a 12 month low of $362.49 and a 12 month high of $646.60.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the previous year, the company earned $6.08 EPS. Parker-Hannifin’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts anticipate that Parker-Hannifin will post 26.64 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company 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 of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Insider Activity

In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin 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 sale, the director now owns 3,900 shares in the company, valued at $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Institutional Trading of Parker-Hannifin

Hedge funds and other institutional investors have recently made changes to their positions in the stock. West Branch Capital LLC acquired a new position in Parker-Hannifin during the 3rd quarter worth $25,000. Bangor Savings Bank grew its stake in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Addison Advisors LLC bought a new stake in Parker-Hannifin in the second quarter valued at about $25,000. Harbor Investment Advisory LLC raised its stake in Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after buying an additional 20 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Parker-Hannifin during the 1st quarter worth approximately $31,000. Institutional investors own 82.44% of the company’s stock.

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.