Parker-Hannifin (NYSE:PH) Rating Lowered to Hold at Stifel Nicolaus

Stifel Nicolaus lowered shares of Parker-Hannifin (NYSE:PH) from a buy rating to a hold rating in a research report report published on Monday morning, Marketbeat Ratings reports. They currently have $691.00 price target on the industrial products company’s stock.

A number of other research firms have also recently issued reports on PH. Argus upped their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Barclays boosted their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Raymond James increased their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. TD Cowen boosted their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Finally, Mizuho increased their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $688.07.

Parker-Hannifin Trading Down 1.0 %

NYSE PH opened at $691.68 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin has a 1-year low of $426.49 and a 1-year high of $711.60. The firm’s fifty day simple moving average is $638.42 and its 200-day simple moving average is $576.52. The company has a market capitalization of $89.03 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the business posted $5.96 EPS. Parker-Hannifin’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Parker-Hannifin will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This represents a 20.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock worth $12,807,811 over the last ninety days. 0.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Parker-Hannifin

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arete Wealth Advisors LLC lifted its stake in shares of Parker-Hannifin by 1.2% during the 3rd quarter. Arete Wealth Advisors LLC now owns 1,936 shares of the industrial products company’s stock worth $1,212,000 after buying an additional 23 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Parker-Hannifin by 1.3% during the 3rd quarter. Toronto Dominion Bank now owns 64,278 shares of the industrial products company’s stock worth $40,612,000 after purchasing an additional 848 shares in the last quarter. Coldstream Capital Management Inc. increased its holdings in shares of Parker-Hannifin by 5.3% during the third quarter. Coldstream Capital Management Inc. now owns 2,784 shares of the industrial products company’s stock worth $1,777,000 after purchasing an additional 140 shares during the period. Geode Capital Management LLC raised its position in shares of Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after buying an additional 29,408 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its stake in shares of 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 buying an additional 25 shares during the period. 82.44% of the stock is owned by 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.