Stifel Nicolaus Cuts Parker-Hannifin (NYSE:PH) Price Target to $164.00

Parker-Hannifin (NYSE:PH) had its target price decreased by Stifel Nicolaus from $179.00 to $164.00 in a research report report published on Monday, BenzingaRatingsTable reports. Stifel Nicolaus currently has a hold rating on the industrial products company’s stock.

PH has been the subject of a number of other reports. Morgan Stanley raised their target price on shares of Williams-Sonoma from $52.00 to $56.00 and gave the company an underweight rating in a report on Wednesday, July 10th. Bank of America set a $80.00 target price on shares of Colgate-Palmolive and gave the company a buy rating in a report on Friday, July 12th. Barclays raised their target price on shares of Stanley Black & Decker from $135.00 to $145.00 and gave the company an overweight rating in a report on Wednesday, April 3rd. Citigroup raised their target price on shares of SolarWinds from $20.00 to $23.00 and gave the company a buy rating in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. set a GBX 3,200 ($41.81) target price on shares of Diageo and gave the company a neutral rating in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. Parker-Hannifin currently has an average rating of Hold and an average target price of $177.80.

PH stock opened at $165.77 on Monday. The firm has a fifty day simple moving average of $165.80. Parker-Hannifin has a fifty-two week low of $140.82 and a fifty-two week high of $193.19. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.56. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.55 and a beta of 1.55.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates of $3.01 by $0.16. Parker-Hannifin had a net margin of 10.04% and a return on equity of 26.27%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same period last year, the firm posted $2.80 earnings per share. Parker-Hannifin’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Parker-Hannifin will post 11.62 EPS for the current fiscal year.

In related news, VP Robert W. Malone sold 336 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $156.76, for a total value of $52,671.36. Following the completion of the sale, the vice president now directly owns 24,260 shares in the company, valued at $3,802,997.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.12% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Dubuque Bank & Trust Co. lifted its position in shares of Parker-Hannifin by 97.5% during the first quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 78 shares during the last quarter. Trustcore Financial Services LLC bought a new stake in shares of Parker-Hannifin during the first quarter worth $34,000. Gemmer Asset Management LLC lifted its position in shares of Parker-Hannifin by 162.3% during the first quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 125 shares during the last quarter. HMS Capital Management LLC bought a new stake in shares of Parker-Hannifin during the second quarter worth $36,000. Finally, Legacy Advisors LLC lifted its position in shares of Parker-Hannifin by 121.0% during the second quarter. Legacy Advisors LLC now owns 274 shares of the industrial products company’s stock worth $47,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 79.64% of the company’s stock.

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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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