Parker-Hannifin Corporation (NYSE:PH) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report issued on Wednesday.
Several other brokerages also recently issued reports on PH. Zacks Investment Research upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $180.00 price target for the company in a report on Monday, April 10th. Credit Suisse Group set a $189.00 price target on Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Sunday, April 30th. Barclays PLC set a $162.00 price target on Parker-Hannifin Corporation and gave the stock a “hold” rating in a report on Sunday, April 30th. Jefferies Group LLC reiterated a “hold” rating and set a $145.00 price target on shares of Parker-Hannifin Corporation in a report on Friday, March 17th. Finally, ValuEngine upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $160.00.
Parker-Hannifin Corporation (NYSE PH) opened at 157.40 on Wednesday. Parker-Hannifin Corporation has a 1-year low of $99.10 and a 1-year high of $166.60. The company has a market capitalization of $20.96 billion, a PE ratio of 22.93 and a beta of 1.32. The company has a 50 day moving average of $158.19 and a 200 day moving average of $153.19.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings results on Thursday, April 27th. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.86 by $0.25. Parker-Hannifin Corporation had a return on equity of 22.14% and a net margin of 8.11%. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the company posted $1.51 earnings per share. Parker-Hannifin Corporation’s revenue was up 10.3% compared to the same quarter last year. On average, analysts predict that Parker-Hannifin Corporation will post $7.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Wednesday, May 10th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Monday, May 8th. This represents a $2.64 annualized dividend and a dividend yield of 1.68%. Parker-Hannifin Corporation’s payout ratio is 38.54%.
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In other news, VP Robert W. Malone sold 793 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $159.36, for a total transaction of $126,372.48. Following the completion of the transaction, the vice president now owns 11,549 shares in the company, valued at approximately $1,840,448.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total value of $407,279.40. Following the transaction, the vice president now owns 21,753 shares of the company’s stock, valued at approximately $3,501,797.94. The disclosure for this sale can be found here. Insiders have sold a total of 39,998 shares of company stock valued at $6,420,980 in the last quarter. 2.73% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Harbour Capital Advisors LLC purchased a new position in Parker-Hannifin Corporation during the first quarter valued at $112,000. Quadrant Capital Group LLC increased its position in Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares during the last quarter. TrimTabs Asset Management LLC increased its position in Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after buying an additional 400 shares during the last quarter. FNY Partners Fund LP purchased a new position in Parker-Hannifin Corporation during the first quarter valued at $160,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in Parker-Hannifin Corporation by 5.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,291 shares of the industrial products company’s stock valued at $207,000 after buying an additional 62 shares during the last quarter. Institutional investors own 80.53% of the company’s stock.
Parker-Hannifin Corporation 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.
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