Parker-Hannifin (NYSE:PH) Given New $665.00 Price Target at Citigroup

Parker-Hannifin (NYSE:PH) had its price target cut by Citigroup from $795.00 to $665.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the industrial products company’s stock.

Other analysts have also issued reports about the stock. Stifel Nicolaus lowered their price objective on shares of Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating for the company in a report on Monday. StockNews.com cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. Evercore ISI upped their price target on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research report on Thursday, April 3rd. Finally, UBS Group dropped their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $705.35.

Parker-Hannifin Price Performance

Shares of PH stock opened at $569.24 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The firm has a market cap of $73.27 billion, a P/E ratio of 23.56, a P/E/G ratio of 2.85 and a beta of 1.39. The business’s 50 day moving average price is $628.88 and its 200-day moving average price is $650.57.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. On average, equities research analysts anticipate that Parker-Hannifin will post 26.71 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 7th. Stockholders of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Friday, February 7th. Parker-Hannifin’s dividend payout ratio is currently 26.99%.

Institutional Investors Weigh In On Parker-Hannifin

Several large investors have recently bought and sold shares of PH. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $32,000. Finally, Bank of New Hampshire purchased a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $35,000. 82.44% of the stock is currently 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.