KeyCorp Issues Positive Forecast for Parker-Hannifin (NYSE:PH) Stock Price

Parker-Hannifin (NYSE:PH) had its target price boosted by KeyCorp from $725.00 to $775.00 in a report published on Thursday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

Other analysts have also issued reports about the company. Mizuho increased their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Evercore ISI lifted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Raymond James lifted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $691.40.

Parker-Hannifin Trading Up 0.6 %

NYSE:PH opened at $706.87 on Thursday. The stock has a market cap of $90.99 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.84 and a beta of 1.43. Parker-Hannifin has a fifty-two week low of $426.49 and a fifty-two week high of $711.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The stock’s 50-day moving average is $647.32 and its two-hundred day moving average is $580.54.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating 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 previous year, the firm posted $5.96 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Parker-Hannifin will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. Parker-Hannifin’s payout ratio is presently 29.45%.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the sale, the chief executive officer now owns 33,607 shares in the company, valued at approximately $23,682,516.83. The trade was a 12.74 % 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 in the last 90 days. 0.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PH. State Street Corp lifted its position in shares of Parker-Hannifin by 13.8% in 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 raised its stake in shares of 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 purchasing an additional 564,365 shares in the last quarter. International Assets Investment Management LLC lifted its position in Parker-Hannifin by 64,081.5% in 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 period. World Investment Advisors LLC acquired a new stake in Parker-Hannifin during the third quarter worth $226,570,000. Finally, Mizuho Securities USA LLC increased its holdings in Parker-Hannifin by 3,566.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after buying an additional 353,393 shares during the period. 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.