Analysts Set Parker-Hannifin Co. (NYSE:PH) Target Price at $725.06

Shares of Parker-Hannifin Co. (NYSE:PH) have earned an average rating of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $729.18.

Several research firms have commented on PH. Robert W. Baird lifted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Argus increased their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, KeyCorp lifted their price objective on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st.

Hedge Funds Weigh In On Parker-Hannifin

Several large investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in shares of Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after acquiring an additional 753,143 shares during the period. FMR LLC increased its position in shares of Parker-Hannifin by 7.1% during the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after purchasing an additional 272,531 shares during the period. Geode Capital Management LLC raised its stake in shares of Parker-Hannifin by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after buying an additional 29,408 shares in the last quarter. Wellington Management Group LLP boosted its stake in Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after buying an additional 564,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Parker-Hannifin by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock worth $1,007,102,000 after acquiring an additional 59,432 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $683.62 on Friday. 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 company’s 50 day simple moving average is $665.57 and its 200-day simple moving average is $634.90. Parker-Hannifin has a 1 year low of $492.71 and a 1 year high of $718.44. The company has a market capitalization of $88.00 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. As a group, equities research analysts expect that Parker-Hannifin will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.95%. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

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.