Parker-Hannifin Corporation (NYSE:PH) Rating Lowered to Hold at BidaskClub

Parker-Hannifin Corporation (NYSE:PH) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Monday, July 24th.

Several other equities analysts also recently weighed in on the company. Credit Suisse Group set a $189.00 price target on Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Sunday, April 30th. Barclays PLC set a $162.00 price target on Parker-Hannifin Corporation and gave the company a “hold” rating in a report on Sunday, April 30th. ValuEngine upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $189.00 price objective on shares of Parker-Hannifin Corporation in a research report on Friday, July 14th. Finally, Jefferies Group LLC set a $163.00 price objective on Parker-Hannifin Corporation and gave the company a “hold” rating in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the stock. Parker-Hannifin Corporation currently has an average rating of “Buy” and an average target price of $168.69.

Shares of Parker-Hannifin Corporation (PH) opened at 155.15 on Monday. The stock has a 50 day moving average of $162.38 and a 200 day moving average of $158.39. The company has a market cap of $20.68 billion, a price-to-earnings ratio of 21.40 and a beta of 1.40. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $167.50.

Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.90 earnings per share. Analysts predict that Parker-Hannifin Corporation will post $9.07 EPS for the current year.

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In other news, VP Martin C. Maxwell sold 2,850 shares of Parker-Hannifin Corporation stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $160.08, for a total transaction of $456,228.00. Following the transaction, the vice president now directly owns 21,968 shares of the company’s stock, valued at approximately $3,516,637.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of Parker-Hannifin Corporation stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $160.98, for a total value of $407,279.40. Following the transaction, the vice president now directly owns 21,753 shares in the company, valued at $3,501,797.94. The disclosure for this sale can be found here. 2.73% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of PH. Israel Discount Bank of New York increased its stake in shares of Parker-Hannifin Corporation by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after buying an additional 150 shares during the period. Parallel Advisors LLC increased its stake in shares of Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after buying an additional 24 shares during the period. Harbour Capital Advisors LLC acquired a new stake in shares of Parker-Hannifin Corporation during the first quarter valued at about $112,000. IHT Wealth Management LLC increased its stake in shares of Parker-Hannifin Corporation by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after buying an additional 20 shares during the period. Finally, BT Investment Management Ltd acquired a new stake in shares of Parker-Hannifin Corporation during the second quarter valued at about $124,000. 80.66% of the stock is currently owned by institutional investors.

About Parker-Hannifin Corporation

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

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