Parker-Hannifin Corp. (PH) Reaches New 12-Month High at $124.86
Parker-Hannifin Corp. (NYSE:PH) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $124.86 and last traded at $124.50, with a volume of 226,119 shares trading hands. The stock had previously closed at $124.07.
Several equities research analysts have recently issued reports on PH shares. Zacks Investment Research downgraded Parker-Hannifin Corp. from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Wells Fargo & Co. raised Parker-Hannifin Corp. from a “market perform” rating to an “outperform” rating in a research report on Thursday, June 30th. Goldman Sachs Group Inc. raised their price target on Parker-Hannifin Corp. from $91.00 to $101.00 and gave the company a “sell” rating in a research report on Friday, August 5th. Argus raised Parker-Hannifin Corp. to a “hold” rating in a research report on Friday, May 20th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $131.00 price target on shares of Parker-Hannifin Corp. in a research report on Friday, August 5th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $112.27.
The firm has a market capitalization of $16.74 billion and a PE ratio of 21.14. The company has a 50 day moving average price of $116.40 and a 200-day moving average price of $111.33.
Parker-Hannifin Corp. (NYSE:PH) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. During the same quarter in the previous year, the business posted $1.73 earnings per share. The company earned $2.96 billion during the quarter, compared to analyst estimates of $2.93 billion. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities research analysts forecast that Parker-Hannifin Corp. will post $6.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 29th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Thursday, August 25th.
In other Parker-Hannifin Corp. news, VP Robert W. Bond sold 9,756 shares of the firm’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $116.66, for a total value of $1,138,134.96. Following the completion of the sale, the vice president now directly owns 369 shares in the company, valued at $43,047.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lee C. Banks sold 10,953 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $124.28, for a total transaction of $1,361,238.84. Following the completion of the sale, the chief operating officer now owns 99,977 shares of the company’s stock, valued at $12,425,141.56. The disclosure for this sale can be found here.
A number of large investors recently bought and sold shares of PH. American International Group Inc. boosted its stake in Parker-Hannifin Corp. by 0.4% in the fourth quarter. American International Group Inc. now owns 62,905 shares of the company’s stock worth $6,101,000 after buying an additional 253 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Parker-Hannifin Corp. by 4.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 662,642 shares of the company’s stock worth $64,268,000 after buying an additional 30,671 shares during the last quarter. Finally, Morgan Stanley boosted its stake in Parker-Hannifin Corp. by 7.9% in the fourth quarter. Morgan Stanley now owns 212,946 shares of the company’s stock worth $20,652,000 after buying an additional 15,560 shares during the last quarter.
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. The Company’s manufacturing, service, sales, distribution and administrative facilities are located in the United States and in 49 other countries.
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