Parker-Hannifin (NYSE:PH) Downgraded to “Hold” Rating by Stifel Nicolaus

Stifel Nicolaus lowered shares of Parker-Hannifin (NYSE:PH) from a buy rating to a hold rating in a report released on Monday, MarketBeat reports. Stifel Nicolaus currently has $691.00 price target on the industrial products company’s stock.

Several other analysts have also weighed in on PH. Truist Financial boosted their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Mizuho boosted their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. UBS Group initiated coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 target price on the stock. KeyCorp upped their target price on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Evercore ISI raised their price target on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $688.07.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $691.68 on Monday. The stock has a market capitalization of $89.03 billion, a price-to-earnings ratio of 31.24, a PEG ratio of 2.82 and a beta of 1.43. Parker-Hannifin has a one year low of $426.49 and a one year high of $711.60. The company’s 50-day simple moving average is $638.42 and its 200-day simple moving average is $576.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

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

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s payout ratio is currently 29.45%.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock worth $12,807,811 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently added to or reduced their stakes in PH. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin during the second quarter worth $25,000. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the 3rd quarter worth about $25,000. Bangor Savings Bank raised its holdings in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after buying an additional 31 shares during the period. Fortitude Family Office LLC increased its position in shares of Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 52 shares in the last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

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.