Parker-Hannifin (NYSE:PH) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Parker-Hannifin (NYSE:PH) had its price target upped by Robert W. Baird from $695.00 to $710.00 in a research report report published on Friday, Benzinga reports. Robert W. Baird currently has an outperform rating on the industrial products company’s stock.

Several other equities research analysts also recently commented on PH. Deutsche Bank Aktiengesellschaft boosted their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. TD Cowen increased their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday, September 11th. Barclays lifted their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Mizuho increased their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Raymond James boosted their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $664.57.

Parker-Hannifin Price Performance

PH opened at $638.00 on Friday. The stock’s 50 day moving average price is $616.39 and its 200-day moving average price is $565.93. Parker-Hannifin has a 52-week low of $399.19 and a 52-week high of $646.60. The stock has a market capitalization of $82.09 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.55 and a current ratio of 0.96.

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 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 the consensus estimate of $4.90 billion. During the same period in the prior year, the firm earned $5.96 earnings per share. Parker-Hannifin’s revenue was up 1.2% on a year-over-year basis. On average, equities research analysts predict that Parker-Hannifin will post 26.67 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin’s payout ratio is 29.45%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the company’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 sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on Thursday, August 15th. The shares were 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently modified their holdings of the stock. TD Asset Management Inc increased its position in Parker-Hannifin by 152.1% during the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after purchasing an additional 79,774 shares during the period. Daiwa Securities Group Inc. increased its holdings in Parker-Hannifin by 8.5% during the first quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock valued at $12,761,000 after buying an additional 1,802 shares during the period. Concurrent Investment Advisors LLC raised its stake in Parker-Hannifin by 261.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after buying an additional 1,819 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Parker-Hannifin by 54.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock worth $9,540,000 after buying an additional 6,029 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in Parker-Hannifin by 16.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company’s stock valued at $23,634,000 after acquiring an additional 6,013 shares in the last quarter. Institutional investors 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.