Parker-Hannifin Corporation’s (NYSE:PH) Hold Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC reissued their hold rating on shares of Parker-Hannifin Corporation (NYSE:PH) in a research report sent to investors on Thursday morning. The firm currently has a $163.00 target price on the industrial products company’s stock.
A number of other equities analysts have also weighed in on the company. BidaskClub lowered Parker-Hannifin Corporation from a buy rating to a hold rating in a research note on Monday, July 24th. Stifel Nicolaus reissued a buy rating and set a $189.00 price objective on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. Wolfe Research began coverage on Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They set an outperform rating and a $182.00 price objective on the stock. ValuEngine raised Parker-Hannifin Corporation from a hold rating to a buy rating in a research note on Wednesday, June 14th. Finally, Credit Suisse Group set a $189.00 price objective on Parker-Hannifin Corporation and gave the stock a buy rating in a research note on Sunday, May 28th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Parker-Hannifin Corporation currently has a consensus rating of Buy and a consensus price target of $168.56.
Shares of Parker-Hannifin Corporation (NYSE PH) traded down 0.67% during mid-day trading on Thursday, reaching $164.22. The company had a trading volume of 918,920 shares. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $167.50. The company has a market capitalization of $21.87 billion, a PE ratio of 25.78 and a beta of 1.40. The stock’s 50-day moving average price is $162.13 and its 200 day moving average price is $157.33.
Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.14. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 earnings per share. Equities analysts expect that Parker-Hannifin Corporation will post $9.05 EPS for the current year.
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In related news, VP John G. Dedinsky, Jr. sold 2,530 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $160.98, for a total transaction of $407,279.40. Following the transaction, the vice president now owns 21,753 shares of the company’s stock, valued at approximately $3,501,797.94. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Robert W. Malone sold 793 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $159.36, for a total value of $126,372.48. Following the transaction, the vice president now directly owns 11,549 shares in the company, valued at approximately $1,840,448.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,073 shares of company stock worth $1,450,748. 2.73% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of PH. Retirement Systems of Alabama increased its stake in shares of Parker-Hannifin Corporation by 1.9% in the first quarter. Retirement Systems of Alabama now owns 64,432 shares of the industrial products company’s stock valued at $10,330,000 after buying an additional 1,206 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Parker-Hannifin Corporation during the first quarter valued at $362,000. Quantitative Systematic Strategies LLC increased its stake in shares of Parker-Hannifin Corporation by 290.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 14,613 shares of the industrial products company’s stock valued at $2,343,000 after buying an additional 10,870 shares during the period. DnB Asset Management AS increased its stake in shares of Parker-Hannifin Corporation by 14.9% in the first quarter. DnB Asset Management AS now owns 18,465 shares of the industrial products company’s stock valued at $2,960,000 after buying an additional 2,400 shares during the period. Finally, Winslow Evans & Crocker Inc. increased its stake in shares of Parker-Hannifin Corporation by 2,615.4% in the first quarter. Winslow Evans & Crocker Inc. now owns 3,530 shares of the industrial products company’s stock valued at $566,000 after buying an additional 3,400 shares during the period. Institutional investors own 79.78% of the company’s stock.
Parker-Hannifin Corporation Company Profile
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.
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