Trade Report: Today, Parker-Hannifin Corp. (PH) Upgraded to “Buy” at Stifel Nicolaus

Today, Parker-Hannifin Corp. (PH) Upgraded to “Buy” at Stifel Nicolaus

Stifel Nicolaus upgraded shares of Parker-Hannifin Corp. (NYSE:PH) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. Stifel Nicolaus currently has $141.00 price objective on the stock, up from their previous price objective of $131.00.

PH has been the subject of a number of other research reports. Goldman Sachs Group Inc. boosted their price target on Parker-Hannifin Corp. from $91.00 to $101.00 and gave the stock a sell rating in a research report on Friday, August 5th. Citigroup Inc. boosted their price target on Parker-Hannifin Corp. from $115.00 to $120.00 and gave the stock a neutral rating in a research report on Friday, August 5th. Argus reaffirmed a neutral rating on shares of Parker-Hannifin Corp. in a research report on Thursday, August 18th. Zacks Investment Research raised Parker-Hannifin Corp. from a hold rating to a buy rating and set a $140.00 price target for the company in a research report on Tuesday. Finally, Morgan Stanley set a $108.00 price objective on Parker-Hannifin Corp. and gave the stock a hold rating in a research note on Friday, August 5th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $116.12.

Parker-Hannifin Corp. (NYSE:PH) traded down 0.726% during midday trading on Wednesday, hitting $126.485. The stock had a trading volume of 867,480 shares. Parker-Hannifin Corp. has a 12-month low of $83.32 and a 12-month high of $128.24. The stock has a market cap of $16.94 billion, a P/E ratio of 21.475 and a beta of 1.49. The company’s 50-day moving average price is $123.32 and its 200 day moving average price is $115.59.

Parker-Hannifin Corp. (NYSE:PH) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. Parker-Hannifin Corp. had a return on equity of 18.37% and a net margin of 7.10%. The company earned $2.96 billion during the quarter, compared to analysts’ expectations of $2.93 billion. During the same quarter in the previous year, the firm earned $1.73 earnings per share. The business’s quarterly revenue was down 6.0% compared to the same quarter last year. On average, equities research analysts predict that Parker-Hannifin Corp. will post $6.79 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 29th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.98%. The ex-dividend date was Thursday, August 25th. Parker-Hannifin Corp.’s payout ratio is currently 42.86%.

In other news, VP Martin C. Maxwell sold 893 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $120.62, for a total value of $107,713.66. Following the transaction, the vice president now directly owns 39,451 shares of the company’s stock, valued at approximately $4,758,579.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kurt A. Keller sold 757 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $122.12, for a total value of $92,444.84. Following the completion of the transaction, the vice president now directly owns 28,904 shares in the company, valued at $3,529,756.48. The disclosure for this sale can be found here. 2.73% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Parker-Hannifin Corp. by 1.4% in the second quarter. Vanguard Group Inc. now owns 8,825,955 shares of the company’s stock valued at $953,645,000 after buying an additional 118,306 shares during the last quarter. BlackRock Fund Advisors increased its position in Parker-Hannifin Corp. by 1.8% in the second quarter. BlackRock Fund Advisors now owns 2,092,606 shares of the company’s stock valued at $226,106,000 after buying an additional 37,187 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Parker-Hannifin Corp. by 40.0% in the second quarter. TIAA CREF Investment Management LLC now owns 1,498,918 shares of the company’s stock valued at $161,958,000 after buying an additional 428,032 shares in the last quarter. American Century Companies Inc. increased its position in Parker-Hannifin Corp. by 25.6% in the second quarter. American Century Companies Inc. now owns 1,369,527 shares of the company’s stock valued at $147,977,000 after buying an additional 279,278 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. purchased a new position in Parker-Hannifin Corp. during the second quarter valued at about $103,826,000. 80.67% of the stock is currently owned by institutional investors and hedge funds.

About Parker-Hannifin Corp.

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