Parker-Hannifin (NYSE:PH) had its price target boosted by equities research analysts at Morgan Stanley from $193.00 to $209.00 in a research report issued to clients and investors on Wednesday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price objective would suggest a potential upside of 3.27% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Barclays began coverage on Parker-Hannifin in a research note on Monday, November 18th. They issued an “overweight” rating and a $227.00 target price on the stock. ValuEngine raised Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Wells Fargo & Co increased their price target on Parker-Hannifin from $185.00 to $205.00 and gave the company a “market perform” rating in a research report on Monday, November 4th. Stifel Nicolaus dropped their price target on Parker-Hannifin from $176.00 to $174.00 and set a “hold” rating on the stock in a report on Monday, October 7th. Finally, Goldman Sachs Group raised Parker-Hannifin from a “sell” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $230.00 in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $197.31.
PH opened at $202.38 on Wednesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.96 and a quick ratio of 1.53. The company’s 50-day moving average is $196.15 and its 200 day moving average is $175.94. Parker-Hannifin has a fifty-two week low of $140.82 and a fifty-two week high of $205.46. The firm has a market capitalization of $26.00 billion, a P/E ratio of 17.08, a PEG ratio of 2.07 and a beta of 1.57.
In other news, VP Andrew M. Weeks sold 3,750 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.38, for a total transaction of $751,425.00. Also, VP Andrew D. Ross sold 1,939 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $193.82, for a total value of $375,816.98. Following the transaction, the vice president now owns 24,039 shares of the company’s stock, valued at approximately $4,659,238.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,831 shares of company stock valued at $3,435,867. 1.23% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Gabelli Funds LLC boosted its position in Parker-Hannifin by 1.5% during the second quarter. Gabelli Funds LLC now owns 16,550 shares of the industrial products company’s stock worth $2,814,000 after purchasing an additional 250 shares during the period. GAM Holding AG purchased a new position in shares of Parker-Hannifin in the second quarter worth about $237,000. United Services Automobile Association raised its position in shares of Parker-Hannifin by 1.5% in the second quarter. United Services Automobile Association now owns 124,390 shares of the industrial products company’s stock valued at $21,148,000 after purchasing an additional 1,874 shares during the period. National Pension Service raised its position in shares of Parker-Hannifin by 5.0% in the third quarter. National Pension Service now owns 185,204 shares of the industrial products company’s stock valued at $33,450,000 after purchasing an additional 8,814 shares during the period. Finally, GHP Investment Advisors Inc. lifted its stake in shares of Parker-Hannifin by 32.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 3,531 shares of the industrial products company’s stock valued at $600,000 after buying an additional 856 shares in the last quarter. Institutional investors and hedge funds own 80.20% of the company’s stock.
Parker-Hannifin Company Profile
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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