Parker-Hannifin Corp (NYSE:PH)‘s stock had its “sell” rating reaffirmed by research analysts at Jefferies Group LLC in a note issued to investors on Friday, April 14th.
A number of other analysts also recently issued reports on PH. Credit Suisse Group AG set a $169.00 target price on Parker-Hannifin Corp and gave the stock a “buy” rating in a research note on Wednesday, April 12th. Zacks Investment Research raised Parker-Hannifin Corp from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a research note on Monday, April 10th. Cowen and Company raised their target price on Parker-Hannifin Corp from $110.00 to $140.00 and gave the stock a “market perform” rating in a research note on Monday, March 13th. Goldman Sachs Group Inc initiated coverage on Parker-Hannifin Corp in a research report on Monday, March 13th. They set a “buy” rating and a $180.00 price objective for the company. Finally, Morgan Stanley reissued an “overweight” rating and set a $180.00 price objective on shares of Parker-Hannifin Corp in a research report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Parker-Hannifin Corp has a consensus rating of “Buy” and a consensus price target of $160.00.
Shares of Parker-Hannifin Corp (NYSE:PH) traded up 3.38% on Friday, reaching $157.44. 1,047,472 shares of the company’s stock traded hands. The firm has a market cap of $20.97 billion, a P/E ratio of 22.94 and a beta of 1.28. The stock has a 50-day moving average of $158.65 and a 200 day moving average of $148.91. Parker-Hannifin Corp has a 12-month low of $99.10 and a 12-month high of $166.60.
Parker-Hannifin Corp (NYSE:PH) last posted its quarterly earnings data on Thursday, April 27th. The industrial products company reported $2.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.25. Parker-Hannifin Corp had a return on equity of 20.08% and a net margin of 7.86%. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the company earned $1.51 EPS. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts expect that Parker-Hannifin Corp will post $7.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Wednesday, May 10th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.73%. The ex-dividend date is Monday, May 8th. Parker-Hannifin Corp’s dividend payout ratio (DPR) is 40.80%.
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In other news, EVP Jon P. Marten sold 7,913 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $155.68, for a total value of $1,231,895.84. Following the transaction, the executive vice president now owns 44,413 shares of the company’s stock, valued at $6,914,215.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP William R. Bowman sold 2,900 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $158.92, for a total value of $460,868.00. Following the completion of the transaction, the vice president now directly owns 1,172 shares in the company, valued at approximately $186,254.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,367 shares of company stock worth $9,282,905. 2.73% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of PH. Harbour Capital Advisors LLC acquired a new stake in Parker-Hannifin Corp during the first quarter worth $112,000. Itau Unibanco Holding S.A. acquired a new stake in Parker-Hannifin Corp during the third quarter worth $105,000. Quadrant Capital Group LLC increased its stake in Parker-Hannifin Corp by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock worth $131,000 after buying an additional 37 shares during the period. TrimTabs Asset Management LLC increased its stake in Parker-Hannifin Corp by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock worth $137,000 after buying an additional 400 shares during the period. Finally, FNY Partners Fund LP acquired a new stake in Parker-Hannifin Corp during the first quarter worth $160,000. Hedge funds and other institutional investors own 82.72% of the company’s stock.
About Parker-Hannifin Corp
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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