Parker-Hannifin Corp. (PH) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Parker-Hannifin Corp. (NYSE:PH) have been given an average rating of “Hold” by the twenty ratings firms that are currently covering the stock. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $118.29.
Several brokerages have recently issued reports on PH. Avondale Partners reaffirmed a “market perform” rating on shares of Parker-Hannifin Corp. in a report on Monday, October 10th. Goldman Sachs Group Inc. raised Parker-Hannifin Corp. from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $106.00 to $120.00 in a report on Tuesday. Stifel Nicolaus raised Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $141.00 in a report on Wednesday, October 5th. Zacks Investment Research upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Tuesday, October 4th. Finally, Jefferies Group restated a “hold” rating on shares of Parker-Hannifin Corp. in a report on Monday, September 12th.
In other Parker-Hannifin Corp. news, VP Kurt A. Keller sold 757 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $122.12, for a total value of $92,444.84. Following the completion of the sale, the vice president now directly owns 28,904 shares in the company, valued at $3,529,756.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Catherine A. Suever sold 1,019 shares of the stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $123.29, for a total value of $125,632.51. The disclosure for this sale can be found here. Corporate insiders own 2.73% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. acquired a new stake in Parker-Hannifin Corp. during the first quarter worth approximately $101,000. Van ECK Associates Corp boosted its stake in 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 during the period. Signaturefd LLC boosted its stake in 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 during the period. Checchi Capital Advisers LLC boosted its stake in 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 during the period. Finally, Mizuho Asset Management Co. Ltd. boosted its stake in 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 during the period. Institutional investors own 80.75% of the company’s stock.
Parker-Hannifin Corp. (NYSE:PH) opened at 124.54 on Monday. The company has a market cap of $16.68 billion, a PE ratio of 21.14 and a beta of 1.49. The stock has a 50 day moving average of $123.42 and a 200 day moving average of $116.19. Parker-Hannifin Corp. has a one year low of $83.32 and a one year high of $128.24.
Parker-Hannifin Corp. (NYSE:PH) last posted its quarterly earnings results on Thursday, August 4th. The company reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.15. Parker-Hannifin Corp. had a return on equity of 18.37% and a net margin of 7.10%. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.93 billion. During the same period in the previous year, the firm earned $1.73 EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. On average, analysts anticipate that Parker-Hannifin Corp. will post $6.80 earnings per share for the current fiscal year.
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.