Parker-Hannifin (NYSE:PH) Research Coverage Started at Bank of America

Bank of America began coverage on shares of Parker-Hannifin (NYSE:PHGet Rating) in a research report report published on Tuesday, The Fly reports. The firm issued a neutral rating on the industrial products company’s stock.

Several other analysts have also weighed in on PH. Credit Suisse Group upped their target price on Parker-Hannifin to $361.00 in a report on Tuesday, August 9th. KeyCorp cut their price objective on Parker-Hannifin from $385.00 to $335.00 and set an overweight rating on the stock in a report on Tuesday, July 12th. Stifel Nicolaus lowered their target price on Parker-Hannifin from $343.00 to $283.00 in a research note on Monday, July 18th. The Goldman Sachs Group lowered their target price on Parker-Hannifin from $346.00 to $287.00 and set a buy rating for the company in a research note on Thursday, June 23rd. Finally, Mizuho raised their price objective on Parker-Hannifin from $245.00 to $300.00 and gave the company a neutral rating in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $333.00.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $250.43 on Tuesday. The company has a current ratio of 2.06, a quick ratio of 1.68 and a debt-to-equity ratio of 1.10. Parker-Hannifin has a twelve month low of $230.44 and a twelve month high of $340.00. The stock has a 50 day moving average of $278.04 and a two-hundred day moving average of $271.95. The stock has a market cap of $32.16 billion, a P/E ratio of 24.84, a P/E/G ratio of 1.57 and a beta of 1.57.

Parker-Hannifin (NYSE:PHGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The industrial products company reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. The company had revenue of $4.19 billion during the quarter, compared to analysts’ expectations of $4.07 billion. Parker-Hannifin had a return on equity of 27.81% and a net margin of 8.29%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.38 earnings per share. On average, research analysts forecast that Parker-Hannifin will post 18.37 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 29th were paid a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, August 26th. Parker-Hannifin’s payout ratio is currently 52.78%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Andrew D. Ross sold 3,224 shares of Parker-Hannifin stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $296.30, for a total transaction of $955,271.20. Following the sale, the vice president now owns 9,840 shares of the company’s stock, valued at approximately $2,915,592. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.47% of the stock is owned by company insiders.

Hedge Funds Weigh In On Parker-Hannifin

Hedge funds have recently modified their holdings of the company. Crewe Advisors LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter worth $27,000. Cyrus J. Lawrence LLC acquired a new position in shares of Parker-Hannifin in the 1st quarter worth $35,000. FinTrust Capital Advisors LLC acquired a new position in shares of Parker-Hannifin in the 1st quarter worth $35,000. MCF Advisors LLC acquired a new position in shares of Parker-Hannifin in the 1st quarter worth $35,000. Finally, Mystic Asset Management Inc. acquired a new position in shares of Parker-Hannifin in the 4th quarter worth $36,000. 82.65% of the stock is currently owned by institutional investors and hedge funds.

About Parker-Hannifin

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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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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