Parker-Hannifin Corp (NYSE:PH) hit a new 52-week high during trading on Friday . The company traded as high as $202.83 and last traded at $202.26, with a volume of 9854 shares trading hands. The stock had previously closed at $199.41.
Several research analysts have commented on the stock. Morgan Stanley set a $193.00 price target on shares of Parker-Hannifin and gave the stock a “hold” rating in a research note on Friday, November 1st. Deutsche Bank upped their price objective on shares of Parker-Hannifin from $215.00 to $227.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus reduced their target price on shares of Parker-Hannifin from $176.00 to $174.00 and set a “hold” rating on the stock in a report on Monday, October 7th. Barclays began coverage on shares of Parker-Hannifin in a research report on Monday, November 18th. They issued an “overweight” rating and a $227.00 target price on the stock. Finally, Wolfe Research set a $189.00 target price on shares of Parker-Hannifin and gave the stock a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $189.92.
The stock has a market cap of $26.00 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.04 and a beta of 1.57. The company has a quick ratio of 1.53, a current ratio of 1.96 and a debt-to-equity ratio of 1.21. The company has a 50-day simple moving average of $194.68 and a two-hundred day simple moving average of $175.19.
Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $0.12. Parker-Hannifin had a net margin of 10.41% and a return on equity of 25.74%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the business earned $2.84 earnings per share. The business’s revenue was down 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Parker-Hannifin Corp will post 10.69 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, November 7th. This represents a $3.52 annualized dividend and a yield of 1.74%. Parker-Hannifin’s payout ratio is currently 29.70%.
In other news, CFO Catherine A. Suever sold 775 shares of Parker-Hannifin stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $200.52, for a total value of $155,403.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Andrew D. Ross sold 1,939 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $193.82, for a total value of $375,816.98. Following the completion of the sale, the vice president now owns 24,039 shares in the company, valued at $4,659,238.98. The disclosure for this sale can be found here. In the last three months, insiders sold 70,661 shares of company stock worth $12,986,250. Insiders own 1.23% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in Parker-Hannifin by 16.1% during the 1st quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock valued at $53,324,000 after purchasing an additional 43,094 shares during the period. SG Americas Securities LLC grew its holdings in shares of Parker-Hannifin by 159.7% during the 2nd quarter. SG Americas Securities LLC now owns 27,119 shares of the industrial products company’s stock worth $4,611,000 after acquiring an additional 16,675 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Parker-Hannifin by 20.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 51,493 shares of the industrial products company’s stock worth $8,754,000 after acquiring an additional 8,650 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Parker-Hannifin by 32.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 20,257 shares of the industrial products company’s stock worth $3,444,000 after acquiring an additional 4,923 shares in the last quarter. Finally, Kanawha Capital Management LLC raised its position in shares of Parker-Hannifin by 5.5% in the 2nd quarter. Kanawha Capital Management LLC now owns 30,311 shares of the industrial products company’s stock worth $5,153,000 after acquiring an additional 1,585 shares in the last quarter. Institutional investors own 80.33% of the company’s stock.
Parker-Hannifin Company Profile (NYSE:PH)
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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