Parker-Hannifin (PH) Given “Buy” Rating at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Parker-Hannifin (NYSE:PH) in a research report sent to investors on Tuesday morning, Marketbeat reports. They currently have a $245.00 price objective on the industrial products company’s stock, up from their prior price objective of $218.00.

Several other equities analysts have also recently issued reports on the company. Credit Suisse Group boosted their price target on Parker-Hannifin from $205.00 to $206.00 and gave the company an outperform rating in a research report on Friday, November 3rd. Deutsche Bank boosted their price target on Parker-Hannifin to $200.00 and gave the company a buy rating in a research report on Monday, November 20th. BMO Capital Markets restated a buy rating and issued a $200.00 price target on shares of Parker-Hannifin in a research report on Friday, October 20th. Morgan Stanley cut Parker-Hannifin from an overweight rating to an equal weight rating and set a $188.00 price target on the stock. in a research report on Monday, October 2nd. Finally, Buckingham Research boosted their price target on Parker-Hannifin from $205.00 to $210.00 and gave the company a buy rating in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $198.21.

Parker-Hannifin (NYSE:PH) traded up $0.40 during trading on Tuesday, hitting $210.94. The stock had a trading volume of 902,469 shares, compared to its average volume of 832,627. The stock has a market cap of $28,160.00, a P/E ratio of 27.08, a P/E/G ratio of 1.86 and a beta of 1.40. Parker-Hannifin has a fifty-two week low of $141.06 and a fifty-two week high of $212.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 EPS. sell-side analysts forecast that Parker-Hannifin will post 9.71 earnings per share for the current year.

In other Parker-Hannifin news, COO Lee C. Banks sold 5,286 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $186.38, for a total transaction of $985,204.68. Following the transaction, the chief operating officer now owns 112,808 shares in the company, valued at approximately $21,025,155.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Andrew D. Ross sold 2,056 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $192.14, for a total value of $395,039.84. Following the completion of the sale, the vice president now owns 5,207 shares in the company, valued at approximately $1,000,472.98. The disclosure for this sale can be found here. Insiders have sold a total of 22,495 shares of company stock worth $4,127,941 in the last quarter. 1.12% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Catawba Capital Management VA acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $257,000. State of Alaska Department of Revenue grew its holdings in shares of Parker-Hannifin by 152.1% in the 4th quarter. State of Alaska Department of Revenue now owns 15,562 shares of the industrial products company’s stock worth $3,104,000 after acquiring an additional 9,390 shares during the period. Syntal Capital Partners LLC grew its holdings in shares of Parker-Hannifin by 73.6% in the 4th quarter. Syntal Capital Partners LLC now owns 7,029 shares of the industrial products company’s stock worth $1,402,000 after acquiring an additional 2,981 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in shares of Parker-Hannifin by 5.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 488,525 shares of the industrial products company’s stock worth $97,500,000 after acquiring an additional 24,566 shares during the period. Finally, National Pension Service grew its holdings in shares of Parker-Hannifin by 3.8% in the 4th quarter. National Pension Service now owns 139,370 shares of the industrial products company’s stock worth $27,815,000 after acquiring an additional 5,071 shares during the period. Institutional investors and hedge funds own 78.05% of the company’s stock.

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Parker-Hannifin 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 (NYSE:PH)

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