Stifel Nicolaus Cuts Parker-Hannifin (NYSE:PH) Price Target to $689.00

Parker-Hannifin (NYSE:PH) had its target price trimmed by Stifel Nicolaus from $691.00 to $689.00 in a research report released on Friday,Benzinga reports. The firm currently has a hold rating on the industrial products company’s stock.

A number of other research analysts also recently weighed in on the stock. KeyCorp upped their price objective on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. TD Cowen raised their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday, November 12th. Mizuho raised their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird raised their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial upped their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $722.81.

Parker-Hannifin Price Performance

NYSE PH opened at $679.25 on Friday. The firm’s fifty day simple moving average is $668.38 and its two-hundred day simple moving average is $625.13. The firm has a market capitalization of $87.43 billion, a P/E ratio of 30.68, a P/E/G ratio of 2.76 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin has a 12-month low of $463.16 and a 12-month high of $712.42.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the business earned $5.96 EPS. Parker-Hannifin’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts forecast that Parker-Hannifin will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be paid a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently bought and sold shares of PH. Calamos Wealth Management LLC lifted its stake in Parker-Hannifin by 2.7% in the 4th quarter. Calamos Wealth Management LLC now owns 835 shares of the industrial products company’s stock valued at $531,000 after buying an additional 22 shares in the last quarter. Calamos Advisors LLC raised its stake in Parker-Hannifin by 0.5% in the 4th quarter. Calamos Advisors LLC now owns 40,668 shares of the industrial products company’s stock valued at $25,866,000 after purchasing an additional 216 shares during the last quarter. Patron Partners LLC lifted its holdings in Parker-Hannifin by 3.2% in the 4th quarter. Patron Partners LLC now owns 652 shares of the industrial products company’s stock valued at $415,000 after purchasing an additional 20 shares in the last quarter. Columbus Macro LLC boosted its stake in shares of Parker-Hannifin by 485.2% during the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after purchasing an additional 8,914 shares during the last quarter. Finally, GEN Financial Management INC. acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $601,000. 82.44% of the stock is owned by institutional investors and hedge funds.

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.