Parker-Hannifin (NYSE:PH) Hits New 1-Year Low – Should You Sell?

Shares of Parker-Hannifin Co. (NYSE:PH) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $488.45 and last traded at $496.98, with a volume of 107957 shares changing hands. The stock had previously closed at $517.23.

Wall Street Analyst Weigh In

Several research firms have commented on PH. Evercore ISI upped their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Truist Financial cut their price objective on shares of Parker-Hannifin from $842.00 to $717.00 and set a “buy” rating for the company in a research report on Tuesday. Citigroup began coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They issued a “buy” rating and a $795.00 target price on the stock. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Finally, UBS Group reduced their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $723.41.

Parker-Hannifin Stock Up 13.6 %

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm’s 50-day moving average price is $640.89 and its 200 day moving average price is $652.30. The firm has a market capitalization of $76.81 billion, a price-to-earnings ratio of 24.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.39.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Sell-side analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 7th. Investors of record on Friday, February 7th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Friday, February 7th. Parker-Hannifin’s payout ratio is 26.99%.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds have recently modified their holdings of PH. EP Wealth Advisors LLC boosted its position in Parker-Hannifin by 25.7% during the third quarter. EP Wealth Advisors LLC now owns 3,432 shares of the industrial products company’s stock worth $2,168,000 after acquiring an additional 701 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Parker-Hannifin by 7.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 37,800 shares of the industrial products company’s stock valued at $23,883,000 after purchasing an additional 2,495 shares during the period. Geller Advisors LLC acquired a new position in Parker-Hannifin in the third quarter valued at $222,000. Continuum Advisory LLC lifted its position in Parker-Hannifin by 2.9% during the third quarter. Continuum Advisory LLC now owns 1,277 shares of the industrial products company’s stock worth $891,000 after buying an additional 36 shares during the period. Finally, Brophy Wealth Management LLC acquired a new stake in Parker-Hannifin in the 3rd quarter worth about $723,000. 82.44% of the stock is owned by institutional investors and hedge funds.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.