Parker-Hannifin Corporation (NYSE:PH)‘s stock had its “hold” rating reissued by analysts at Cowen and Company in a report issued on Sunday. They presently have a $155.00 price objective on the industrial products company’s stock. Cowen and Company’s price target indicates a potential downside of 15.71% from the company’s previous close.
A number of other brokerages also recently weighed in on PH. BidaskClub downgraded shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC restated a “hold” rating and set a $165.00 target price (up from $163.00) on shares of Parker-Hannifin Corporation in a report on Wednesday, August 9th. BMO Capital Markets restated a “buy” rating and set a $200.00 target price on shares of Parker-Hannifin Corporation in a report on Friday, October 20th. Robert W. Baird restated a “hold” rating and set a $183.00 target price on shares of Parker-Hannifin Corporation in a report on Friday, October 13th. Finally, Stifel Nicolaus restated a “buy” rating and set a $176.00 target price on shares of Parker-Hannifin Corporation in a report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $183.00.
Parker-Hannifin Corporation (NYSE:PH) traded down 0.51% during mid-day trading on Friday, hitting $183.88. 574,295 shares of the company traded hands. The stock has a market capitalization of $24.49 billion, a price-to-earnings ratio of 25.36 and a beta of 1.42. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $185.52. The company’s 50-day moving average is $176.77 and its 200-day moving average is $164.11.
Parker-Hannifin Corporation (NYSE:PH) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.14. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 earnings per share. Analysts predict that Parker-Hannifin Corporation will post $9.14 EPS for the current year.
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In other news, VP Joseph R. Leonti sold 408 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total value of $65,565.60. Following the completion of the transaction, the vice president now owns 7,318 shares of the company’s stock, valued at $1,176,002.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Scaminace sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $158.35, for a total value of $79,175.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,389 shares of company stock valued at $878,913. Insiders own 1.12% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PH. Jennison Associates LLC increased its stake in shares of Parker-Hannifin Corporation by 28.5% in the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock valued at $963,146,000 after buying an additional 1,336,541 shares during the period. Voya Investment Management LLC increased its stake in shares of Parker-Hannifin Corporation by 1,175.0% in the second quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock valued at $215,499,000 after buying an additional 1,242,624 shares during the period. Koch Industries Inc. acquired a new position in shares of Parker-Hannifin Corporation in the second quarter valued at approximately $521,000. PNC Financial Services Group Inc. increased its stake in shares of Parker-Hannifin Corporation by 277.9% in the second quarter. PNC Financial Services Group Inc. now owns 595,662 shares of the industrial products company’s stock valued at $95,200,000 after buying an additional 438,035 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Parker-Hannifin Corporation by 2,611.4% in the second quarter. Janus Henderson Group PLC now owns 453,585 shares of the industrial products company’s stock valued at $72,493,000 after buying an additional 436,856 shares during the period. 79.37% of the stock is owned by institutional investors.
Parker-Hannifin Corporation Company Profile
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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