Parker-Hannifin (NYSE:PH) Price Target Cut to $1,060.00 by Analysts at JPMorgan Chase & Co.

Parker-Hannifin (NYSE:PH) had its price target lowered by JPMorgan Chase & Co. from $1,100.00 to $1,060.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the industrial products company’s stock.

Several other equities analysts have also issued reports on PH. iA Financial set a $1,032.00 price target on Parker-Hannifin in a research note on Thursday, January 29th. KeyCorp reaffirmed an “overweight” rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Jefferies Financial Group upped their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Wells Fargo & Company cut their target price on Parker-Hannifin from $1,050.00 to $980.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 1st. Finally, Citigroup increased their target price on Parker-Hannifin from $1,137.00 to $1,141.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $1,010.45.

Parker-Hannifin Trading Down 1.1%

Shares of PH traded down $9.46 during trading hours on Thursday, hitting $877.39. 318,716 shares of the stock traded hands, compared to its average volume of 730,524. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Parker-Hannifin has a 1-year low of $637.21 and a 1-year high of $1,034.96. The firm has a market capitalization of $110.74 billion, a PE ratio of 32.38, a price-to-earnings-growth ratio of 2.90 and a beta of 1.18. The business has a fifty day moving average of $940.31 and a 200-day moving average of $906.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the firm posted $6.94 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Analysts expect that Parker-Hannifin will post 31.08 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 8th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Friday, May 8th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.80. This represents a $8.00 annualized dividend and a yield of 0.9%. Parker-Hannifin’s payout ratio is currently 29.51%.

Insider Activity

In other news, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the transaction, the chief financial officer owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer owned 13,120 shares in the company, valued at $13,106,880. This trade represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Parker-Hannifin by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after purchasing an additional 33,606 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Parker-Hannifin by 0.6% during the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after purchasing an additional 22,305 shares in the last quarter. Capital World Investors lifted its holdings in shares of Parker-Hannifin by 0.6% during the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after purchasing an additional 16,703 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Parker-Hannifin by 0.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock valued at $1,674,132,000 after purchasing an additional 13,309 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

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.