Air Products and Chemicals (NYSE:APD) Price Target Increased to $310.00 by Analysts at Deutsche Bank Aktiengesellschaft

Air Products and Chemicals (NYSE:APDFree Report) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $260.00 to $310.00 in a research note released on Monday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price objective on Air Products and Chemicals from $270.00 to $260.00 and set an overweight rating on the stock in a research note on Wednesday, May 1st. Mizuho dropped their price objective on Air Products and Chemicals from $295.00 to $286.00 and set a buy rating on the stock in a research note on Wednesday, May 1st. Bank of America upped their price objective on Air Products and Chemicals from $272.00 to $275.00 and gave the stock a buy rating in a research note on Wednesday, May 1st. BMO Capital Markets upped their price objective on Air Products and Chemicals from $276.00 to $294.00 and gave the stock an outperform rating in a research note on Monday. Finally, Morgan Stanley upped their price objective on Air Products and Chemicals from $240.00 to $280.00 and gave the stock an equal weight rating in a research note on Wednesday, June 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average price target of $287.29.

Read Our Latest Research Report on APD

Air Products and Chemicals Price Performance

Air Products and Chemicals stock opened at $285.31 on Monday. The company has a quick ratio of 1.31, a current ratio of 1.49 and a debt-to-equity ratio of 0.77. Air Products and Chemicals has a 12-month low of $212.24 and a 12-month high of $307.71. The stock has a market cap of $63.43 billion, a price-to-earnings ratio of 25.75, a P/E/G ratio of 3.06 and a beta of 0.84. The business’s 50-day simple moving average is $251.88 and its 200 day simple moving average is $251.72.

Air Products and Chemicals (NYSE:APDGet Free Report) last posted its earnings results on Tuesday, April 30th. The basic materials company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.15. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.05 billion. Air Products and Chemicals had a return on equity of 16.56% and a net margin of 20.32%. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.74 EPS. As a group, research analysts anticipate that Air Products and Chemicals will post 12.3 earnings per share for the current year.

Air Products and Chemicals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Shareholders of record on Monday, July 1st will be paid a dividend of $1.77 per share. The ex-dividend date of this dividend is Monday, July 1st. This represents a $7.08 annualized dividend and a yield of 2.48%. Air Products and Chemicals’s dividend payout ratio is 63.90%.

Hedge Funds Weigh In On Air Products and Chemicals

Several hedge funds and other institutional investors have recently modified their holdings of APD. Capital Research Global Investors raised its holdings in Air Products and Chemicals by 62.3% during the first quarter. Capital Research Global Investors now owns 11,230,051 shares of the basic materials company’s stock valued at $2,720,704,000 after acquiring an additional 4,309,040 shares during the period. Morgan Stanley raised its stake in shares of Air Products and Chemicals by 4.6% during the third quarter. Morgan Stanley now owns 5,302,455 shares of the basic materials company’s stock valued at $1,502,717,000 after acquiring an additional 235,037 shares in the last quarter. Northern Trust Corp raised its stake in Air Products and Chemicals by 1.0% in the third quarter. Northern Trust Corp now owns 3,829,919 shares of the basic materials company’s stock worth $1,085,399,000 after buying an additional 39,215 shares in the last quarter. Norges Bank bought a new position in Air Products and Chemicals in the fourth quarter worth approximately $852,288,000. Finally, Raymond James & Associates boosted its stake in Air Products and Chemicals by 8.7% in the 1st quarter. Raymond James & Associates now owns 2,099,419 shares of the basic materials company’s stock worth $508,626,000 after purchasing an additional 167,800 shares in the last quarter. 81.66% of the stock is owned by institutional investors.

About Air Products and Chemicals

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Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.

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Analyst Recommendations for Air Products and Chemicals (NYSE:APD)

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