Parker-Hannifin (NYSE:PH) PT Raised to $625.00 at Barclays

Parker-Hannifin (NYSE:PH) had its target price boosted by Barclays from $558.00 to $625.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

A number of other brokerages have also weighed in on PH. Evercore ISI raised their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an outperform rating in a report on Tuesday, February 20th. TD Cowen raised shares of Parker-Hannifin from an underperform rating to a market perform rating and raised their price target for the company from $300.00 to $500.00 in a report on Friday, March 1st. KeyCorp raised their price target on shares of Parker-Hannifin from $500.00 to $575.00 and gave the company an overweight rating in a report on Friday, February 2nd. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $450.00 to $510.00 and gave the company an overweight rating in a research note on Tuesday, December 19th. Finally, Wolfe Research reaffirmed a peer perform rating on shares of Parker-Hannifin in a research note on Monday, December 11th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $511.31.

Parker-Hannifin Stock Performance

NYSE PH opened at $566.67 on Tuesday. The firm has a market cap of $72.77 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 2.05 and a beta of 1.52. The company has a 50 day moving average of $528.68 and a 200-day moving average of $459.82. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. Parker-Hannifin has a 1-year low of $308.26 and a 1-year high of $570.15.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping the consensus estimate of $5.26 by $0.89. The company had revenue of $4.82 billion during the quarter, compared to analyst estimates of $4.82 billion. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $4.76 earnings per share. On average, equities analysts forecast that Parker-Hannifin will post 24.25 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 9th were paid a $1.48 dividend. The ex-dividend date was Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.04%. Parker-Hannifin’s payout ratio is currently 29.31%.

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $6,693,299.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of Parker-Hannifin stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,079 shares of company stock worth $6,099,566. Insiders own 1.03% of the company’s stock.

Institutional Trading of Parker-Hannifin

A number of institutional investors have recently bought and sold shares of PH. First Hawaiian Bank increased its position in Parker-Hannifin by 47.8% during the 1st quarter. First Hawaiian Bank now owns 3,672 shares of the industrial products company’s stock worth $2,041,000 after purchasing an additional 1,188 shares in the last quarter. GAMMA Investing LLC raised its stake in Parker-Hannifin by 11.9% during the first quarter. GAMMA Investing LLC now owns 1,319 shares of the industrial products company’s stock worth $733,000 after buying an additional 140 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Parker-Hannifin by 21.5% during the first quarter. Los Angeles Capital Management LLC now owns 116,430 shares of the industrial products company’s stock worth $64,711,000 after buying an additional 20,602 shares during the last quarter. NBC Securities Inc. raised its stake in Parker-Hannifin by 264.5% during the first quarter. NBC Securities Inc. now owns 7,639 shares of the industrial products company’s stock worth $4,245,000 after buying an additional 5,543 shares during the last quarter. Finally, M&R Capital Management Inc. grew its holdings in Parker-Hannifin by 254.4% in the first quarter. M&R Capital Management Inc. now owns 443 shares of the industrial products company’s stock worth $246,000 after purchasing an additional 318 shares during the period. Institutional investors own 82.44% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.