Parker-Hannifin Corp. (NYSE:PH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $153.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 10.13% from the company’s current price.

According to Zacks, “Year-to-date, Parker-Hannifin’s shares have recorded an average return of 41.0%, almost double compared with the Zacks categorized General Industrial industry average of 22.7%. Encouragingly, the company has a robust earnings surprise history, with consecutive earnings beats in the four trailing quarters largely driven by the Win Strategy. The company believes this strategy will help deliver a compound annual growth rate of 8% in earnings per share, over the next five years. Going forward, the company expects to gain some traction from improving demand and incremental savings from its realignment actions. The company’s robust financial health, strategic acquisitions and diligent capital deployment strategies add to its strength. However, on the flip side, prolonged sluggishness in the natural resources market and softness in key end-markets are proving to be major concerns for the company.”

Other equities research analysts also recently issued reports about the company. Barclays PLC increased their price target on Parker-Hannifin Corp. from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. Jefferies Group increased their price target on Parker-Hannifin Corp. from $100.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, August 5th. Citigroup Inc. increased their price target on Parker-Hannifin Corp. from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. KeyCorp reiterated a “buy” rating and issued a $136.00 price target on shares of Parker-Hannifin Corp. in a report on Thursday, September 8th. Finally, Argus reiterated a “neutral” rating on shares of Parker-Hannifin Corp. in a report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $123.80.

Analyst Recommendations for Parker-Hannifin Corp. (NYSE:PH)

Shares of Parker-Hannifin Corp. (NYSE:PH) opened at 138.93 on Tuesday. The company has a market capitalization of $18.53 billion, a price-to-earnings ratio of 23.04 and a beta of 1.23. The company’s 50 day moving average price is $128.54 and its 200 day moving average price is $120.04. Parker-Hannifin Corp. has a 52-week low of $83.32 and a 52-week high of $140.07.

Parker-Hannifin Corp. (NYSE:PH) last posted its quarterly earnings data on Friday, October 21st. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.05. The business earned $2.74 billion during the quarter, compared to analyst estimates of $2.78 billion. Parker-Hannifin Corp. had a return on equity of 18.74% and a net margin of 7.32%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. On average, analysts predict that Parker-Hannifin Corp. will post $6.82 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 10th will be given a $0.63 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.81%. Parker-Hannifin Corp.’s payout ratio is 41.86%.

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In other news, VP Robert W. Bond sold 14,043 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $124.51, for a total value of $1,748,493.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.73% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the company. LPL Financial LLC boosted its stake in shares of Parker-Hannifin Corp. by 9.0% in the first quarter. LPL Financial LLC now owns 8,004 shares of the company’s stock worth $873,000 after buying an additional 661 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Parker-Hannifin Corp. by 1.7% in the first quarter. Arizona State Retirement System now owns 36,624 shares of the company’s stock worth $4,068,000 after buying an additional 600 shares in the last quarter. Euclid Advisors LLC boosted its stake in shares of Parker-Hannifin Corp. by 28.5% in the first quarter. Euclid Advisors LLC now owns 35,079 shares of the company’s stock worth $3,897,000 after buying an additional 7,770 shares in the last quarter. First Republic Investment Management Inc. boosted its stake in shares of Parker-Hannifin Corp. by 40.9% in the first quarter. First Republic Investment Management Inc. now owns 8,739 shares of the company’s stock worth $971,000 after buying an additional 2,538 shares in the last quarter. Finally, BlueMountain Capital Management LLC purchased a new stake in shares of Parker-Hannifin Corp. during the first quarter worth approximately $749,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Corp. 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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