Parker-Hannifin Corp. (PH) Reaches New 12-Month High at $123.71
Parker-Hannifin Corp. (NYSE:PH) shares hit 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 traded. The stock had previously closed at $122.17.
A number of research analysts have issued reports on PH shares. Zacks Investment Research upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research report on Thursday, April 28th. Credit Suisse Group AG reiterated a “buy” rating and issued a $131.00 target price on shares of Parker-Hannifin Corp. in a research report on Friday, August 5th. Barclays PLC lifted their target price on Parker-Hannifin Corp. from $120.00 to $121.00 and gave the company an “equal weight” rating in a research report on Friday, August 5th. Argus upgraded Parker-Hannifin Corp. to a “hold” rating in a research report on Friday, May 20th. Finally, Jefferies Group reiterated a “hold” rating and issued a $100.00 target price on shares of Parker-Hannifin Corp. in a research report on Sunday, May 1st. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have given a buy rating to the company’s stock. Parker-Hannifin Corp. currently has a consensus rating of “Hold” and a consensus price target of $112.27.
The company has a market capitalization of $16.50 billion and a P/E ratio of 20.85. The firm’s 50 day moving average is $113.12 and its 200-day moving average is $109.88.
Parker-Hannifin Corp. (NYSE:PH) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. During the same quarter in the previous year, the business earned $1.73 earnings per share. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.93 billion. The firm’s revenue was down 6.0% on a year-over-year basis. Equities research analysts expect that Parker-Hannifin Corp. will post $6.79 earnings per share for the current fiscal year.
In other Parker-Hannifin Corp. news, VP Robert W. Bond sold 9,756 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $116.66, for a total transaction of $1,138,134.96. Following the transaction, the vice president now directly owns 369 shares in the company, valued at $43,047.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kurt A. Keller sold 757 shares of the stock in a transaction that occurred on 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 owns 28,904 shares in the company, valued at $3,529,756.48. The disclosure for this sale can be found here.
Several hedge funds recently added to or reduced their stakes in PH. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake 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 worth $1,779,000 after buying an additional 955 shares during the period. Ancora Advisors LLC raised its stake in shares of Parker-Hannifin Corp. by 86.4% in the fourth quarter. Ancora Advisors LLC now owns 12,320 shares of the company’s stock worth $1,589,000 after buying an additional 5,710 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Parker-Hannifin Corp. during the fourth quarter worth approximately $3,646,000. Advisors Asset Management Inc. raised its stake in shares of Parker-Hannifin Corp. by 50.3% in the fourth quarter. Advisors Asset Management Inc. now owns 28,614 shares of the company’s stock worth $2,775,000 after buying an additional 9,575 shares during the last quarter. Finally, Advantus Capital Management Inc raised its stake in shares of Parker-Hannifin Corp. by 0.3% in the fourth quarter. Advantus Capital Management Inc now owns 13,033 shares of the company’s stock worth $1,264,000 after buying an additional 45 shares during the last quarter.
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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