Parker-Hannifin (NYSE:PH) Price Target Raised to $575.00 at TD Cowen

Parker-Hannifin (NYSE:PH) had its price objective raised by TD Cowen from $520.00 to $575.00 in a report released on Tuesday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

PH has been the topic of a number of other reports. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Argus lifted their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. KeyCorp increased their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays lifted their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird raised their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $688.07.

Parker-Hannifin Trading Up 0.2 %

Parker-Hannifin stock opened at $698.91 on Tuesday. The firm has a market cap of $89.96 billion, a PE ratio of 31.57, a P/E/G ratio of 2.85 and a beta of 1.43. Parker-Hannifin has a 12 month low of $425.20 and a 12 month high of $711.60. The stock’s 50 day simple moving average is $636.19 and its two-hundred day simple moving average is $574.94. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the firm posted $5.96 earnings per share. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. Analysts anticipate that Parker-Hannifin will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,927 shares of company stock worth $12,807,811 over the last ninety days. Company insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. State Street Corp lifted its position in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after acquiring an additional 753,143 shares during the period. Wellington Management Group LLP increased its holdings in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after buying an additional 564,365 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after purchasing an additional 381,285 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth $226,570,000. Finally, Mizuho Securities USA LLC lifted its holdings in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after purchasing an additional 353,393 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

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.