Parker-Hannifin (NYSE:PH) Price Target Raised to $800.00 at Barclays

Parker-Hannifin (NYSE:PH) had its price objective raised by Barclays from $703.00 to $800.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other equities analysts have also recently commented on the company. TD Cowen increased their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Stifel Nicolaus cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price on the stock. in a research note on Monday, November 18th. Argus raised their target price on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $697.87.

Parker-Hannifin Stock Down 0.2 %

PH opened at $694.81 on Thursday. The firm has a 50 day moving average price of $662.19 and a 200 day moving average price of $589.65. The company has a market cap of $89.44 billion, a PE ratio of 31.38, a price-to-earnings-growth ratio of 2.83 and a beta of 1.43. Parker-Hannifin has a 1 year low of $431.98 and a 1 year high of $712.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

Parker-Hannifin (NYSE:PH) last posted its 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 firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the company earned $5.96 EPS. The company’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts expect that Parker-Hannifin will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Insider Activity at Parker-Hannifin

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

Institutional Trading of Parker-Hannifin

Several hedge funds have recently added to or reduced their stakes in PH. Addison Advisors LLC acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth $25,000. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $25,000. Bangor Savings Bank boosted its position in shares of Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC raised its stake in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in Parker-Hannifin during the 2nd quarter worth approximately $39,000. 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.