Wall Street Zen downgraded shares of Parker-Hannifin (NYSE:PH – Free Report) from a buy rating to a hold rating in a report published on Saturday.
Other research analysts also recently issued research reports about the company. KeyCorp increased their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Sanford C. Bernstein boosted their target price on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Citigroup increased their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, May 1st. Finally, Wells Fargo & Company reduced their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.
Check Out Our Latest Research Report on PH
Parker-Hannifin Price Performance
Parker-Hannifin (NYSE:PH – Get Free Report) last issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the firm posted $7.69 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities analysts forecast that Parker-Hannifin will post 34.93 EPS for the current fiscal year.
Parker-Hannifin Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be given a $2.00 dividend. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Parker-Hannifin’s payout ratio is 28.08%.
Institutional Trading of Parker-Hannifin
A number of hedge funds have recently added to or reduced their stakes in PH. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin during the third quarter worth $25,000. Archer Investment Corp acquired a new position in Parker-Hannifin in the 2nd quarter valued at $28,000. HFM Investment Advisors LLC increased its stake in Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock valued at $29,000 after buying an additional 30 shares during the period. Lloyd Advisory Services LLC. purchased a new position in Parker-Hannifin during the 4th quarter worth $31,000. Finally, NFSG Corp raised its position in Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after buying an additional 17 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.
Parker-Hannifin Company Profile
Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.
Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.
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