Parker-Hannifin (NYSE:PH) Upgraded at StockNews.com

StockNews.com upgraded shares of Parker-Hannifin (NYSE:PH) from a hold rating to a buy rating in a research report released on Saturday.

PH has been the topic of a number of other research reports. Stifel Nicolaus upped their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Wells Fargo & Company upped their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Robert W. Baird upped their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Jefferies Financial Group upped their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, UBS Group cut their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Trading Down 0.5 %

Shares of Parker-Hannifin stock opened at $680.50 on Friday. The stock has a market cap of $87.59 billion, a P/E ratio of 28.17, a P/E/G ratio of 2.84 and a beta of 1.45. The stock’s 50 day simple moving average is $665.57 and its 200-day simple moving average is $635.64. Parker-Hannifin has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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 return on equity of 27.34% and a net margin of 15.87%. Analysts predict that Parker-Hannifin will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Friday, February 7th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, February 7th. Parker-Hannifin’s dividend payout ratio is presently 26.99%.

Institutional Investors Weigh In On Parker-Hannifin

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC raised its stake in Parker-Hannifin by 8.6% during the third quarter. CWM LLC now owns 4,363 shares of the industrial products company’s stock worth $2,757,000 after acquiring an additional 346 shares during the period. Private Advisory Group LLC acquired a new stake in shares of Parker-Hannifin in the third quarter valued at $202,000. Fermata Advisors LLC lifted its holdings in shares of Parker-Hannifin by 29.0% in the third quarter. Fermata Advisors LLC now owns 619 shares of the industrial products company’s stock valued at $391,000 after buying an additional 139 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Parker-Hannifin by 261.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 856 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 619 shares during the last quarter. Finally, First Affirmative Financial Network lifted its holdings in shares of Parker-Hannifin by 7.9% during the third quarter. First Affirmative Financial Network now owns 452 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

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.