Parker-Hannifin (PH) Hits New 1-Year High at $190.82

Parker-Hannifin Corp (NYSE:PH)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $190.82 and last traded at $186.33, with a volume of 960200 shares changing hands. The stock had previously closed at $184.31.

PH has been the subject of a number of research analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $198.00 target price on shares of Parker-Hannifin in a report on Friday, October 13th. KeyCorp reissued a “buy” rating and set a $200.00 target price on shares of Parker-Hannifin in a report on Thursday, October 12th. Zacks Investment Research raised Parker-Hannifin from a “hold” rating to a “buy” rating and set a $198.00 target price for the company in a report on Tuesday, October 10th. ValuEngine raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Buckingham Research initiated coverage on Parker-Hannifin in a report on Tuesday, October 17th. They set a “buy” rating and a $205.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $188.95.

The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44. The stock has a market cap of $24,554.90, a price-to-earnings ratio of 21.16, a P/E/G ratio of 1.66 and a beta of 1.40.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.02 by $0.22. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the firm earned $1.61 earnings per share. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. equities analysts predict that Parker-Hannifin Corp will post 9.56 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were issued a $0.66 dividend. The ex-dividend date was Thursday, November 9th. This represents a $2.64 annualized dividend and a dividend yield of 1.42%. Parker-Hannifin’s dividend payout ratio is presently 33.93%.

In other Parker-Hannifin news, VP Thomas C. Gentile sold 326 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $181.89, for a total transaction of $59,296.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Candy M. Obourn sold 1,241 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $161.46, for a total value of $200,371.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,320 shares of company stock valued at $4,370,641. Insiders own 1.12% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PH. Vanguard Group Inc. boosted its position in shares of Parker-Hannifin by 1.0% during the second quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after buying an additional 90,732 shares during the period. BlackRock Inc. boosted its position in shares of Parker-Hannifin by 3.6% during the second quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock worth $1,352,775,000 after buying an additional 298,047 shares during the period. Jennison Associates LLC boosted its position in shares of Parker-Hannifin by 28.5% during the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after buying an additional 1,336,541 shares during the period. Longview Partners Guernsey LTD boosted its position in shares of Parker-Hannifin by 5.4% during the third quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock worth $947,463,000 after buying an additional 278,500 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Parker-Hannifin by 10.2% during the second quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock worth $336,317,000 after buying an additional 194,858 shares during the period. 78.24% of the stock is owned by institutional investors.

COPYRIGHT VIOLATION WARNING: This story was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another domain, it was stolen and republished in violation of US and international trademark and copyright law. The original version of this story can be accessed at https://www.com-unik.info/2017/12/07/parker-hannifin-ph-hits-new-1-year-high-at-190-82.html.

Parker-Hannifin Company Profile

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.

What are top analysts saying about Parker-Hannifin Corp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Parker-Hannifin Corp and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit