Robert W. Baird upgraded shares of Parker-Hannifin (NYSE:PH) from a neutral rating to an outperform rating in a report released on Thursday morning, MarketBeat reports. Robert W. Baird currently has $203.00 target price on the industrial products company’s stock.
Several other research analysts also recently commented on the company. Jefferies Group reaffirmed a hold rating and issued a $200.00 price objective on shares of Parker-Hannifin in a research note on Wednesday. Zacks Investment Research downgraded Parker-Hannifin from a buy rating to a hold rating in a research note on Wednesday, January 31st. Citigroup lifted their target price on Parker-Hannifin from $195.00 to $220.00 and gave the company a neutral rating in a research note on Tuesday, January 30th. Buckingham Research reissued a neutral rating and set a $210.00 target price on shares of Parker-Hannifin in a research note on Friday, January 19th. They noted that the move was a valuation call. Finally, Wells Fargo & Co lifted their target price on Parker-Hannifin from $205.00 to $235.00 and gave the company an outperform rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $201.41.
Parker-Hannifin (NYSE PH) opened at $186.58 on Thursday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 0.99. Parker-Hannifin has a 12 month low of $151.17 and a 12 month high of $212.80. The company has a market capitalization of $24,820.00, a PE ratio of 21.85, a PEG ratio of 1.61 and a beta of 1.37.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 9th were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s payout ratio is 30.91%.
In other Parker-Hannifin news, Director Joseph Scaminace sold 1,149 shares of Parker-Hannifin stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $184.24, for a total value of $211,691.76. Following the sale, the director now owns 14,189 shares of the company’s stock, valued at approximately $2,614,181.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.12% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Chemical Bank bought a new stake in Parker-Hannifin in the 4th quarter worth approximately $206,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Parker-Hannifin by 11.0% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 4,164 shares of the industrial products company’s stock worth $831,000 after purchasing an additional 411 shares during the period. Wagner Wealth Management LLC purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $198,000. Xact Kapitalforvaltning AB boosted its holdings in shares of Parker-Hannifin by 7.5% in the 4th quarter. Xact Kapitalforvaltning AB now owns 24,909 shares of the industrial products company’s stock worth $4,971,000 after purchasing an additional 1,745 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Parker-Hannifin by 37.0% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 115,166 shares of the industrial products company’s stock worth $22,985,000 after purchasing an additional 31,087 shares during the period. 78.96% of the stock is currently owned by institutional investors and hedge funds.
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Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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