Parker-Hannifin Corp (PH) Given “Buy” Rating at BMO Capital Markets
BMO Capital Markets reissued their buy rating on shares of Parker-Hannifin Corp (NYSE:PH) in a research report sent to investors on Thursday morning. The firm currently has a $175.00 target price on the industrial products company’s stock.
Several other equities analysts have also commented on the company. Barclays PLC reaffirmed an equal weight rating and issued a $148.00 price target (down previously from $158.00) on shares of Parker-Hannifin Corp in a research note on Wednesday. Jefferies Group LLC reaffirmed a sell rating on shares of Parker-Hannifin Corp in a research note on Friday, April 14th. Credit Suisse Group AG set a $169.00 price target on Parker-Hannifin Corp and gave the company a buy rating in a research note on Wednesday, April 12th. Zacks Investment Research raised Parker-Hannifin Corp from a hold rating to a buy rating and set a $180.00 price target on the stock in a research note on Monday, April 10th. Finally, Cowen and Company upped their price target on Parker-Hannifin Corp from $110.00 to $140.00 and gave the company a market perform rating in a research note on Monday, March 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. Parker-Hannifin Corp currently has a consensus rating of Buy and an average target price of $157.75.
Parker-Hannifin Corp (NYSE:PH) traded up 0.05% on Thursday, hitting $157.15. The stock had a trading volume of 462,722 shares. Parker-Hannifin Corp has a 12 month low of $99.10 and a 12 month high of $163.14. The company has a market cap of $20.95 billion, a PE ratio of 24.24 and a beta of 1.28. The company has a 50-day moving average of $157.95 and a 200 day moving average of $143.80.
Parker-Hannifin Corp (NYSE:PH) last announced its quarterly earnings results on Thursday, February 2nd. The industrial products company reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.52. Parker-Hannifin Corp had a return on equity of 20.08% and a net margin of 7.86%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the company posted $1.52 EPS. The company’s quarterly revenue was down 1.3% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Corp will post $7.53 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Wednesday, May 10th will be issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.68%. Parker-Hannifin Corp’s dividend payout ratio (DPR) is 40.80%.
In other Parker-Hannifin Corp news, Chairman Thomas L. Williams sold 18,435 shares of the company’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $160.00, for a total transaction of $2,949,600.00. Following the sale, the chairman now owns 69,952 shares in the company, valued at approximately $11,192,320. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jon P. Marten sold 7,913 shares of the company’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $155.68, for a total value of $1,231,895.84. Following the sale, the executive vice president now owns 44,413 shares in the company, valued at approximately $6,914,215.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,184 shares of company stock worth $6,675,032. 2.73% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the company. DnB Asset Management AS increased its stake in shares of Parker-Hannifin Corp by 10.0% in the third quarter. DnB Asset Management AS now owns 14,365 shares of the industrial products company’s stock valued at $1,803,000 after buying an additional 1,300 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Parker-Hannifin Corp by 0.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 430,213 shares of the industrial products company’s stock valued at $54,005,000 after buying an additional 2,935 shares during the period. Chicago Equity Partners LLC increased its stake in shares of Parker-Hannifin Corp by 317.3% in the third quarter. Chicago Equity Partners LLC now owns 10,600 shares of the industrial products company’s stock valued at $1,331,000 after buying an additional 8,060 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Parker-Hannifin Corp by 2.8% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,734 shares of the industrial products company’s stock valued at $2,603,000 after buying an additional 558 shares during the period. Finally, Verity & Verity LLC increased its stake in shares of Parker-Hannifin Corp by 5.1% in the third quarter. Verity & Verity LLC now owns 25,035 shares of the industrial products company’s stock valued at $3,143,000 after buying an additional 1,212 shares during the period. Institutional investors own 82.72% of the company’s stock.
Parker-Hannifin Corp Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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