Shares of Parker-Hannifin Corp (NYSE:PH) have been given a consensus rating of “Hold” by the twenty-one ratings firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $182.93.
Several research analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Parker-Hannifin from $179.00 to $175.00 and set an “equal weight” rating on the stock in a report on Friday, June 14th. Citigroup raised their target price on shares of Parker-Hannifin from $178.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, May 6th. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $171.00 to $182.00 and gave the stock a “hold” rating in a report on Tuesday, April 16th. Finally, Barclays raised their target price on shares of Parker-Hannifin from $178.00 to $186.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd.
Shares of Parker-Hannifin stock traded up $1.56 on Friday, hitting $170.01. The stock had a trading volume of 1,672,420 shares, compared to its average volume of 833,339. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.56. Parker-Hannifin has a one year low of $140.82 and a one year high of $193.19. The firm has a market cap of $21.81 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.58 and a beta of 1.53. The firm has a 50-day moving average of $164.57.
The business also recently declared a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were issued a $0.88 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 annualized dividend and a yield of 2.07%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $0.76. Parker-Hannifin’s payout ratio is 33.78%.
In related news, VP Robert W. Malone sold 336 shares of Parker-Hannifin stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $156.76, for a total value of $52,671.36. Following the sale, the vice president now owns 24,260 shares in the company, valued at $3,802,997.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.12% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PH. Longview Partners Guernsey LTD lifted its position in Parker-Hannifin by 41.6% during the fourth quarter. Longview Partners Guernsey LTD now owns 5,626,117 shares of the industrial products company’s stock valued at $839,079,000 after buying an additional 1,653,011 shares during the period. Norges Bank purchased a new position in Parker-Hannifin during the fourth quarter valued at $357,950,000. Geode Capital Management LLC lifted its position in Parker-Hannifin by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 1,708,007 shares of the industrial products company’s stock valued at $254,281,000 after buying an additional 128,514 shares during the period. Pennsylvania Trust Co lifted its position in Parker-Hannifin by 29,994.5% during the first quarter. Pennsylvania Trust Co now owns 1,625,103 shares of the industrial products company’s stock valued at $117,980,000 after buying an additional 1,619,703 shares during the period. Finally, Beutel Goodman & Co Ltd. lifted its position in Parker-Hannifin by 1.7% during the first quarter. Beutel Goodman & Co Ltd. now owns 1,269,433 shares of the industrial products company’s stock valued at $163,025,000 after buying an additional 21,236 shares during the period. Institutional investors and hedge funds own 79.64% of the company’s stock.
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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