Parker-Hannifin Corp. (PH) Earns Market Perform Rating from Avondale Partners
Several other equities analysts have also commented on PH. Zacks Investment Research raised shares of Parker-Hannifin Corp. from a hold rating to a buy rating and set a $127.00 target price on the stock in a report on Tuesday, June 21st. JPMorgan Chase & Co. lowered shares of Parker-Hannifin Corp. from a neutral rating to an underweight rating and reduced their target price for the company from $110.00 to $98.00 in a report on Monday, June 27th. 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. Barclays PLC increased their target price on shares of Parker-Hannifin Corp. from $120.00 to $121.00 and gave the company an equal weight rating in a report on Friday, August 5th. Finally, Citigroup Inc. increased their price target on shares of Parker-Hannifin Corp. from $115.00 to $120.00 and gave the company a neutral rating in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $117.88.
Shares of Parker-Hannifin Corp. (NYSE:PH) opened at 123.42 on Monday. Parker-Hannifin Corp. has a 52-week low of $83.32 and a 52-week high of $128.24. The stock’s 50 day moving average is $123.39 and its 200 day moving average is $116.08. The company has a market capitalization of $16.53 billion, a P/E ratio of 20.95 and a beta of 1.49.
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. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. The company had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the firm earned $1.73 EPS. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin Corp. will post $6.80 EPS for the current year.
In other news, VP Robert W. Bond sold 14,043 shares of Parker-Hannifin Corp. stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $124.51, for a total value of $1,748,493.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Martin C. Maxwell sold 893 shares of Parker-Hannifin Corp. stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $120.62, for a total transaction of $107,713.66. Following the completion of the sale, the vice president now owns 39,451 shares of the company’s stock, valued at $4,758,579.62. The disclosure for this sale can be found here. Company insiders own 2.73% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. NN Investment Partners Holdings N.V. bought a new stake in shares of Parker-Hannifin Corp. during the first quarter worth approximately $101,000. Van ECK Associates Corp raised its stake in shares of Parker-Hannifin Corp. by 24.4% in the second quarter. Van ECK Associates Corp now owns 1,091 shares of the company’s stock worth $118,000 after buying an additional 214 shares in the last quarter. Signaturefd LLC raised its stake in shares of Parker-Hannifin Corp. by 2.7% in the second quarter. Signaturefd LLC now owns 1,307 shares of the company’s stock worth $141,000 after buying an additional 34 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Parker-Hannifin Corp. by 1.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,653 shares of the company’s stock worth $179,000 after buying an additional 31 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its stake in shares of Parker-Hannifin Corp. by 72.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,767 shares of the company’s stock worth $191,000 after buying an additional 741 shares in the last quarter. Hedge funds and other institutional investors own 80.75% of the company’s stock.
About Parker-Hannifin Corp.
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.
Receive News & Ratings for Parker-Hannifin Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corp. and related companies with MarketBeat.com's FREE daily email newsletter.