Parker-Hannifin (NYSE:PH) Given New $805.00 Price Target at UBS Group

Parker-Hannifin (NYSE:PH) had its price target cut by UBS Group from $842.00 to $805.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Several other research firms also recently commented on PH. Barclays decreased their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating for the company in a report on Friday. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a report on Friday. KeyCorp lifted their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a report on Friday. Mizuho upped their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Truist Financial lifted their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $725.06.

Parker-Hannifin Trading Up 0.6 %

Shares of PH stock opened at $707.91 on Friday. The stock has a 50-day moving average of $666.84 and a 200-day moving average of $629.60. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock has a market cap of $91.12 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 2.73 and a beta of 1.45. Parker-Hannifin has a 1-year low of $463.16 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH) last posted 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 net margin of 14.47% and a return on equity of 27.95%. On average, equities research analysts forecast that Parker-Hannifin will post 26.73 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s payout ratio is 29.45%.

Insider Buying and Selling

In other news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin 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 sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,200 shares of company stock worth $8,595,207. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Several institutional investors have recently bought and sold shares of the stock. West Branch Capital LLC purchased a new position in Parker-Hannifin during the third quarter valued at $25,000. Bangor Savings Bank grew its position in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Prestige Wealth Management Group LLC lifted its holdings in Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 25 shares during the period. Bank of New Hampshire purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $35,000. Finally, Northwest Investment Counselors LLC bought a new position in Parker-Hannifin in the third quarter worth approximately $39,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

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.