Parker-Hannifin (NYSE:PH) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Parker-Hannifin (NYSE:PH) from a buy rating to a hold rating in a report released on Saturday morning.

Several other research analysts also recently commented on the company. Truist Financial lifted their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Evercore set a $1,064.00 price target on Parker-Hannifin in a research note on Monday, May 11th. Wells Fargo & Company cut their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Citigroup lifted their price objective on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Finally, Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Seventeen research 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 has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Stock Up 0.3%

Shares of PH stock opened at $1,002.90 on Friday. Parker-Hannifin has a 52-week low of $715.37 and a 52-week high of $1,099.94. The stock has a market cap of $126.46 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 2.61 and a beta of 1.12. The firm’s 50-day moving average is $984.42 and its 200-day moving average is $948.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26.

Parker-Hannifin (NYSE:PH) last posted its quarterly 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. The business had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts predict that Parker-Hannifin will post 34.93 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Monday, August 31st will be issued a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Parker-Hannifin’s dividend payout ratio (DPR) is presently 28.08%.

Institutional Trading of Parker-Hannifin

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Parker-Hannifin during the second quarter worth $10,163,362,000. Bank of America Corp DE bought a new stake in shares of Parker-Hannifin in the second quarter valued at about $3,273,507,000. Norges Bank acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at about $1,756,230,000. Deutsche Bank AG acquired a new position in shares of Parker-Hannifin in the second quarter valued at about $987,587,000. Finally, Bank of New York Mellon Corp bought a new position in Parker-Hannifin during the second quarter worth about $712,222,000. 82.44% of the stock is currently owned by institutional investors.

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.