UBS Group Issues Pessimistic Forecast for Parker-Hannifin (NYSE:PH) Stock Price

Parker-Hannifin (NYSE:PH) had its price objective cut by UBS Group from $842.00 to $805.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

A number of other equities analysts have also recently weighed in on PH. Robert W. Baird increased their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Barclays cut their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday. Mizuho lifted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Truist Financial boosted their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $725.06.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $707.91 on Friday. The company has a fifty day simple moving average of $666.84 and a 200-day simple moving average of $629.60. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $91.12 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 2.73 and a beta of 1.45. Parker-Hannifin has a 52-week low of $463.16 and a 52-week high of $718.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. On average, equities analysts anticipate that Parker-Hannifin will post 26.73 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Activity

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the sale, the chief executive officer now owns 33,607 shares in the company, valued at approximately $23,682,516.83. This represents a 12.74 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,200 shares of company stock worth $8,595,207 in the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

Institutional Trading of Parker-Hannifin

Several hedge funds and other institutional investors have recently bought and sold shares of PH. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin during the third quarter worth $25,000. Bangor Savings Bank lifted its position in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after buying an additional 31 shares during the period. Prestige Wealth Management Group LLC boosted its stake 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 worth $35,000 after buying an additional 25 shares during the last quarter. Bank of New Hampshire purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $39,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

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.