Parker-Hannifin (NYSE:PH) Given New $824.00 Price Target at Evercore ISI

Parker-Hannifin (NYSE:PH) had its target price raised by Evercore ISI from $777.00 to $824.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the industrial products company’s stock.

Other analysts also recently issued research reports about the company. Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Citigroup assumed coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 price target on the stock. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, February 8th. Jefferies Financial Group increased their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Argus raised their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.06.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $701.48 on Wednesday. Parker-Hannifin has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. 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 has a market cap of $90.30 billion, a PE ratio of 29.03, a P/E/G ratio of 2.87 and a beta of 1.45. The business has a 50-day simple moving average of $665.08 and a two-hundred day simple moving average of $642.79.

Parker-Hannifin (NYSE:PH) last released its 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 net margin of 15.87% and a return on equity of 27.34%. As a group, equities analysts expect that Parker-Hannifin will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is presently 26.99%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PH. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin in the fourth quarter worth about $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin during the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at about $32,000. Finally, Prestige Wealth Management Group LLC raised its holdings in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the last quarter. 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.