Barclays Lowers Parker-Hannifin (NYSE:PH) Price Target to $750.00

Parker-Hannifin (NYSE:PH) had its target price lowered by Barclays from $791.00 to $750.00 in a report issued on Monday morning, Marketbeat reports. The brokerage currently has an overweight rating on the industrial products company’s stock.

Several other research analysts also recently commented on PH. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, February 8th. Truist Financial lifted their target price on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. UBS Group cut their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. Finally, Jefferies Financial Group boosted their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $736.65.

Parker-Hannifin Stock Performance

NYSE PH opened at $613.81 on Monday. The company has a market capitalization of $79.01 billion, a P/E ratio of 25.41, a P/E/G ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a fifty day moving average of $663.37 and a 200-day moving average of $651.41.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 predict that Parker-Hannifin will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in shares of Parker-Hannifin by 39.2% during the third quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after buying an additional 181,859 shares during the period. Howard Capital Management Group LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at approximately $23,390,000. SG Americas Securities LLC grew its holdings in shares of Parker-Hannifin by 752.5% during the 4th quarter. SG Americas Securities LLC now owns 24,381 shares of the industrial products company’s stock worth $15,507,000 after acquiring an additional 21,521 shares during the period. Columbus Macro LLC raised its position in shares of Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company’s stock worth $6,838,000 after acquiring an additional 8,914 shares in the last quarter. Finally, Congress Asset Management Co. lifted its stake in shares of Parker-Hannifin by 15.5% in the 4th quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company’s stock valued at $121,292,000 after purchasing an additional 25,605 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Company Profile

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.