Parker-Hannifin Corp. (PH) Sets New 1-Year High at $123.71
Shares of Parker-Hannifin Corp. (NYSE:PH) reached a new 52-week high during trading on Thursday . The company traded as high as $123.71 and last traded at $123.45, with a volume of 322,444 shares. The stock had previously closed at $122.17.
A number of analysts recently commented on PH shares. JPMorgan Chase & Co. downgraded shares of Parker-Hannifin Corp. from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $110.00 to $98.00 in a report on Monday, June 27th. Zacks Investment Research raised shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $127.00 price objective on the stock in a report on Tuesday, June 21st. Morgan Stanley reissued a “hold” rating on shares of Parker-Hannifin Corp. in a report on Wednesday, April 27th. Credit Suisse Group AG reissued a “buy” rating and set a $131.00 price objective on shares of Parker-Hannifin Corp. in a report on Friday, August 5th. Finally, Wells Fargo & Co. raised shares of Parker-Hannifin Corp. from a “market perform” rating to an “outperform” rating in a report on Thursday, June 30th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $112.27.
The firm’s 50-day moving average price is $112.57 and its 200-day moving average price is $109.53. The stock has a market capitalization of $16.64 billion and a price-to-earnings ratio of 21.02.
Parker-Hannifin Corp. (NYSE:PH) last released its earnings results on Thursday, August 4th. The company reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.15. During the same period in the previous year, the business posted $1.73 EPS. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.93 billion. The firm’s quarterly revenue was down 6.0% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Corp. will post $6.77 EPS for the current year.
In other Parker-Hannifin Corp. news, CFO Jon P. Marten sold 5,172 shares of the firm’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $116.01, for a total transaction of $600,003.72. Following the transaction, the chief financial officer now owns 36,041 shares of the company’s stock, valued at approximately $4,181,116.41. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Kurt A. Keller sold 757 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $122.12, for a total transaction of $92,444.84. Following the transaction, the vice president now directly owns 28,904 shares in the company, valued at approximately $3,529,756.48. The disclosure for this sale can be found here.
A number of institutional investors recently added to or reduced their stakes in PH. Ancora Advisors LLC boosted its position in Parker-Hannifin Corp. by 86.4% in the fourth quarter. Ancora Advisors LLC now owns 12,320 shares of the company’s stock valued at $1,589,000 after buying an additional 5,710 shares during the last quarter. Advantus Capital Management Inc boosted its position in Parker-Hannifin Corp. by 0.3% in the fourth quarter. Advantus Capital Management Inc now owns 13,033 shares of the company’s stock valued at $1,264,000 after buying an additional 45 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in Parker-Hannifin Corp. by 5.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 18,341 shares of the company’s stock valued at $1,779,000 after buying an additional 955 shares during the last quarter. TrimTabs Asset Management LLC bought a new position in Parker-Hannifin Corp. during the fourth quarter valued at approximately $2,042,000. Finally, Suntrust Banks Inc. raised its position in Parker-Hannifin Corp. by 0.6% in the fourth quarter. Suntrust Banks Inc. now owns 25,784 shares of the company’s stock valued at $2,498,000 after buying an additional 142 shares during the period.
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. The Company’s manufacturing, service, sales, distribution and administrative facilities are located in the United States and in 49 other countries.
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