Parker-Hannifin (NYSE:PH) Price Target Raised to $824.00

Parker-Hannifin (NYSE:PH) had its price objective increased by Evercore ISI from $777.00 to $824.00 in a research report sent to investors on Wednesday,Benzinga reports. Evercore ISI currently has an outperform rating on the industrial products company’s stock.

Several other analysts have also recently weighed in on the company. Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Citigroup assumed coverage on Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective on the stock. Finally, Robert W. Baird boosted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $739.06.

Parker-Hannifin Stock Down 4.1 %

Shares of NYSE PH opened at $667.06 on Wednesday. Parker-Hannifin has a 52 week low of $492.71 and a 52 week high of $718.44. The business has a 50-day simple moving average of $665.65 and a two-hundred day simple moving average of $643.57. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a market cap of $85.86 billion, a P/E ratio of 27.61, a P/E/G ratio of 2.87 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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%. Research analysts anticipate that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.98%. Parker-Hannifin’s payout ratio is currently 26.99%.

Institutional Trading of Parker-Hannifin

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC lifted its position in Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock valued at $886,000 after purchasing an additional 15 shares during the last quarter. FFT Wealth Management LLC increased its stake in shares of Parker-Hannifin by 1.3% during the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after buying an additional 15 shares during the period. GenTrust LLC increased its stake in shares of Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock valued at $333,000 after buying an additional 15 shares during the period. First Manhattan CO. LLC. increased its stake in shares of Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock valued at $1,005,000 after buying an additional 15 shares during the period. Finally, Grove Bank & Trust increased its stake in shares of Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after buying an additional 16 shares during the period. Institutional investors own 82.44% of the company’s stock.

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.