Parker-Hannifin Corporation (PH) Receives “Hold” Rating from Cowen and Company

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.

COPYRIGHT VIOLATION NOTICE: This article was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this article can be viewed at https://www.com-unik.info/2017/10/29/parker-hannifin-corporation-ph-receives-hold-rating-from-cowen-and-company.html.

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.

Analyst Recommendations for Parker-Hannifin Corporation (NYSE:PH)

What are top analysts saying about Parker-Hannifin Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Parker-Hannifin Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit