Stifel Nicolaus Forecasts Strong Price Appreciation for Parker-Hannifin (NYSE:PH) Stock

Parker-Hannifin (NYSE:PH) had its price objective hoisted by Stifel Nicolaus from $689.00 to $691.00 in a research report report published on Friday morning,Benzinga reports. They currently have a hold rating on the industrial products company’s stock.

Several other analysts have also recently weighed in on the company. Wells Fargo & Company raised their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday. Mizuho lifted their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price target on the stock in a report on Thursday, December 12th. Jefferies Financial Group lifted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $725.06.

Parker-Hannifin Price Performance

PH stock opened at $707.91 on Friday. The firm has a 50 day moving average of $666.84 and a 200-day moving average of $629.60. The firm has a market capitalization of $91.12 billion, a P/E ratio of 31.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.45. Parker-Hannifin has a 12 month low of $463.16 and a 12 month high of $718.44. 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 (NYSE:PH) last announced its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating 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%. As a group, sell-side analysts predict that Parker-Hannifin will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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 given a dividend of $1.63 per share. The ex-dividend date is Friday, February 7th. This represents a $6.52 annualized dividend and a yield of 0.92%. Parker-Hannifin’s payout ratio is currently 29.45%.

Insiders Place Their Bets

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,200 shares of company stock valued at $8,595,207 in the last quarter. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

A number of institutional investors have recently bought and sold shares of the stock. West Branch Capital LLC bought a new stake in Parker-Hannifin during the third quarter worth about $25,000. Bangor Savings Bank grew its stake in shares of 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 buying an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in Parker-Hannifin by 83.3% during the 3rd 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 in the last quarter. Bank of New Hampshire purchased a new position in Parker-Hannifin during the fourth quarter valued at $35,000. Finally, Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin in the third quarter worth $39,000. 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.