Stifel Nicolaus Reaffirms “Buy” Rating for Parker-Hannifin (NYSE:PH)

Stifel Nicolaus reissued their buy rating on shares of Parker-Hannifin (NYSE:PH) in a research report released on Tuesday, Benzinga reports. Stifel Nicolaus currently has a $629.00 price target on the industrial products company’s stock.

Several other research analysts have also issued reports on the company. KeyCorp raised their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Mizuho upgraded Parker-Hannifin from a neutral rating to a buy rating and upped their target price for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. Barclays dropped their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an overweight rating on the stock in a research report on Tuesday, June 4th. Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $640.00 to $630.00 and set an overweight rating for the company in a research report on Monday, May 6th. Finally, Raymond James initiated coverage on shares of Parker-Hannifin in a research report on Friday, June 28th. They set an outperform rating and a $610.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $569.69.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $512.72 on Tuesday. The company has a market capitalization of $65.91 billion, a PE ratio of 24.16, a P/E/G ratio of 1.98 and a beta of 1.44. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $528.79 and a two-hundred day moving average price of $516.89. Parker-Hannifin has a 12 month low of $362.49 and a 12 month high of $570.15.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. During the same period last year, the company earned $5.93 EPS. The firm’s revenue was up .3% compared to the same quarter last year. Analysts expect that Parker-Hannifin will post 24.85 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.27%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of Parker-Hannifin stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Berend Bracht sold 1,079 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Parker-Hannifin

Institutional investors have recently added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. grew its holdings in shares of Parker-Hannifin by 3.7% in the second quarter. Beese Fulmer Investment Management Inc. now owns 791 shares of the industrial products company’s stock valued at $400,000 after acquiring an additional 28 shares in the last quarter. Marcum Wealth LLC boosted its position in Parker-Hannifin by 47.1% in the second quarter. Marcum Wealth LLC now owns 6,536 shares of the industrial products company’s stock worth $3,306,000 after purchasing an additional 2,094 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in Parker-Hannifin by 15.5% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 775 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 104 shares during the period. GAMMA Investing LLC increased its position in shares of Parker-Hannifin by 23.3% during the 2nd quarter. GAMMA Investing LLC now owns 1,626 shares of the industrial products company’s stock valued at $822,000 after purchasing an additional 307 shares during the last quarter. Finally, Keynote Financial Services LLC bought a new stake in shares of Parker-Hannifin during the 1st quarter worth $283,000. 82.44% of the stock is owned by 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.