Parker-Hannifin (NYSE:PH) Cut to Hold at StockNews.com

StockNews.com lowered shares of Parker-Hannifin (NYSE:PH) from a buy rating to a hold rating in a research note issued to investors on Friday.

PH has been the topic of several other research reports. Truist Financial boosted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. TD Cowen upped their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Robert W. Baird lifted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday. Finally, Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research report on Thursday, December 12th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $725.06.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $707.91 on Friday. Parker-Hannifin has a 12-month low of $463.16 and a 12-month high of $718.44. The business’s fifty day simple moving average is $666.84 and its 200-day simple moving average is $629.60. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company has a market cap of $91.12 billion, a PE ratio of 31.97, a PEG ratio of 2.73 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Analysts expect that Parker-Hannifin will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is currently 29.45%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,200 shares of company stock valued at $8,595,207 in the last three months. 0.39% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Parker-Hannifin

A number of hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. lifted its position in Parker-Hannifin by 2.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 2,450 shares of the industrial products company’s stock worth $1,239,000 after buying an additional 64 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Parker-Hannifin by 52.5% in the 2nd quarter. Clearbridge Investments LLC now owns 4,040 shares of the industrial products company’s stock worth $2,043,000 after acquiring an additional 1,390 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $4,957,000. Centaurus Financial Inc. grew its holdings in shares of Parker-Hannifin by 8.2% in the second quarter. Centaurus Financial Inc. now owns 302 shares of the industrial products company’s stock valued at $153,000 after purchasing an additional 23 shares during the period. Finally, Czech National Bank increased its position in Parker-Hannifin by 6.9% during the third quarter. Czech National Bank now owns 26,185 shares of the industrial products company’s stock worth $16,544,000 after purchasing an additional 1,691 shares during the last quarter. 82.44% of the stock is currently 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.