Barclays Has Lowered Expectations for Parker-Hannifin (NYSE:PH) Stock Price

Parker-Hannifin (NYSE:PH) had its price objective reduced by Barclays from $800.00 to $791.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the industrial products company’s stock.

A number of other analysts have also recently weighed in on the company. Argus upped their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Stifel Nicolaus lowered their target price on shares of Parker-Hannifin from $691.00 to $689.00 and set a “hold” rating on the stock in a report on Friday, January 24th. KeyCorp lifted their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Truist Financial lifted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Robert W. Baird raised their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $725.06.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $707.91 on Friday. Parker-Hannifin has a 52 week low of $463.16 and a 52 week high of $718.44. The firm has a market cap of $91.12 billion, a price-to-earnings ratio of 31.97, a P/E/G ratio of 2.73 and a beta of 1.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The business’s 50-day simple moving average is $666.84 and its 200-day simple moving average is $629.60.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Parker-Hannifin will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed 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 is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. Parker-Hannifin’s payout ratio is presently 29.45%.

Insider Activity at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,200 shares of company stock valued at $8,595,207. 0.39% of the stock is owned by insiders.

Institutional Trading of Parker-Hannifin

Large investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC increased its holdings in shares of Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock valued at $886,000 after purchasing an additional 15 shares during the last quarter. CVA Family Office LLC grew its stake in shares of Parker-Hannifin by 3.9% in the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 16 shares in the last quarter. Grove Bank & Trust increased its position in Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after acquiring an additional 16 shares during the period. Moody Lynn & Lieberson LLC raised its stake in Parker-Hannifin by 0.6% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company’s stock worth $1,723,000 after purchasing an additional 16 shares in the last quarter. Finally, Everpar Advisors LLC boosted its holdings in Parker-Hannifin by 1.3% in the 4th quarter. Everpar Advisors LLC now owns 1,339 shares of the industrial products company’s stock valued at $852,000 after purchasing an additional 17 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

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.