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

StockNews.com downgraded shares of Parker-Hannifin (NYSE:PH) from a buy rating to a hold rating in a research report report published on Wednesday morning.

A number of other research firms have also commented on PH. Jefferies Financial Group lifted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. UBS Group dropped their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup began coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. Finally, Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Price Performance

NYSE PH opened at $622.79 on Wednesday. Parker-Hannifin has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The stock’s 50-day moving average is $660.60 and its two-hundred day moving average is $652.13. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market cap of $80.17 billion, a P/E ratio of 25.78, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, analysts anticipate that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 7th. Shareholders of record on Friday, February 7th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Institutional Investors Weigh In On Parker-Hannifin

A number of institutional investors have recently added to or reduced their stakes in PH. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $30,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $32,000. Finally, Prestige Wealth Management Group LLC boosted its holdings in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares in the last quarter. 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.