Parker-Hannifin (NYSE:PH) Price Target Raised to $810.00

Parker-Hannifin (NYSE:PH) had its target price increased by Jefferies Financial Group from $765.00 to $810.00 in a report released on Friday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the industrial products company’s stock.

Several other research analysts also recently weighed in on PH. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Barclays boosted their price objective on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Evercore ISI boosted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, KeyCorp increased their price target on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $704.88.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $696.16 on Friday. Parker-Hannifin has a 12 month low of $431.98 and a 12 month high of $712.42. The firm has a market capitalization of $89.61 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 2.81 and a beta of 1.43. The business’s 50 day simple moving average is $663.46 and its 200-day simple moving average is $591.30. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.96 EPS. As a group, equities analysts forecast that Parker-Hannifin will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now owns 33,607 shares in the company, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. CWM LLC raised its position in Parker-Hannifin by 9.0% during the second quarter. CWM LLC now owns 4,017 shares of the industrial products company’s stock valued at $2,032,000 after buying an additional 330 shares during the period. Capital Investment Advisors LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter valued at about $208,000. QRG Capital Management Inc. lifted its position in shares of Parker-Hannifin by 4.7% in the second quarter. QRG Capital Management Inc. now owns 9,374 shares of the industrial products company’s stock worth $4,742,000 after purchasing an additional 425 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Parker-Hannifin during the second quarter worth approximately $39,000. Finally, SG Americas Securities LLC grew its position in Parker-Hannifin by 84.1% during the second quarter. SG Americas Securities LLC now owns 32,088 shares of the industrial products company’s stock valued at $16,230,000 after purchasing an additional 14,662 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

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.