Parker-Hannifin (NYSE:PH) Upgraded at StockNews.com

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

A number of other analysts also recently commented on the company. Argus raised their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. TD Cowen raised their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Truist Financial raised their target price on Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Stifel Nicolaus raised their target price on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Finally, Robert W. Baird raised their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $680.50 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a market cap of $87.59 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 2.84 and a beta of 1.45. The business’s 50-day simple moving average is $665.57 and its 200-day simple moving average is $635.64. Parker-Hannifin has a 52 week low of $492.71 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH) last announced 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%. As a group, equities research analysts expect that Parker-Hannifin will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Friday, February 7th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio is 26.99%.

Institutional Investors Weigh In On Parker-Hannifin

A number of hedge funds and other institutional investors have recently bought and sold shares of PH. Generali Asset Management SPA SGR acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $3,838,000. Horizon Investments LLC increased its stake in shares of Parker-Hannifin by 1.4% in the 4th quarter. Horizon Investments LLC now owns 2,115 shares of the industrial products company’s stock valued at $1,342,000 after buying an additional 30 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Parker-Hannifin by 45.2% in the 4th quarter. Advisors Asset Management Inc. now owns 11,232 shares of the industrial products company’s stock valued at $7,144,000 after buying an additional 3,499 shares during the period. Tocqueville Asset Management L.P. increased its stake in shares of Parker-Hannifin by 0.3% in the 4th quarter. Tocqueville Asset Management L.P. now owns 72,753 shares of the industrial products company’s stock valued at $46,273,000 after buying an additional 220 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Parker-Hannifin by 2.7% in the 4th quarter. Signaturefd LLC now owns 3,052 shares of the industrial products company’s stock valued at $1,941,000 after buying an additional 79 shares during the period. 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.