Parker-Hannifin (NYSE:PH) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Several other research firms have also recently issued reports on PH. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $200.00 to $212.00 and gave the stock a “buy” rating in a research report on Monday, September 24th. Wells Fargo & Co lifted their price target on shares of Parker-Hannifin from $185.00 to $193.00 and gave the company a “market perform” rating in a research report on Thursday, September 27th. Deutsche Bank lifted their price target on shares of Parker-Hannifin from $176.00 to $184.00 and gave the company a “hold” rating in a research report on Friday, September 28th. Buckingham Research raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating in a research report on Friday, September 14th. Finally, Barclays initiated coverage on shares of Parker-Hannifin in a research report on Thursday, September 6th. They set an “overweight” rating and a $200.00 price target on the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $187.17.

PH opened at $159.33 on Wednesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.59. Parker-Hannifin has a 1 year low of $152.47 and a 1 year high of $212.80. The company has a market capitalization of $24.36 billion, a P/E ratio of 15.29, a P/E/G ratio of 1.43 and a beta of 1.41.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $0.31. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the company earned $2.45 earnings per share. The company’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, equities research analysts anticipate that Parker-Hannifin will post 11.43 EPS for the current year.

In other news, VP William R. Bowman sold 2,400 shares of the business’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total transaction of $420,864.00. Following the transaction, the vice president now directly owns 1,325 shares of the company’s stock, valued at $232,352. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joseph R. Leonti sold 1,605 shares of the business’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total transaction of $283,378.80. Following the transaction, the vice president now directly owns 15,731 shares in the company, valued at $2,777,465.36. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of PH. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Parker-Hannifin by 5,815.4% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 756 shares in the last quarter. First Hawaiian Bank bought a new stake in shares of Parker-Hannifin in the third quarter worth $125,000. Private Capital Group LLC increased its stake in shares of Parker-Hannifin by 272.2% in the first quarter. Private Capital Group LLC now owns 882 shares of the industrial products company’s stock worth $151,000 after buying an additional 645 shares during the last quarter. Manchester Capital Management LLC increased its stake in shares of Parker-Hannifin by 55.9% in the second quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock worth $152,000 after buying an additional 350 shares during the last quarter. Finally, Signaturefd LLC increased its stake in shares of Parker-Hannifin by 48.3% in the second quarter. Signaturefd LLC now owns 1,108 shares of the industrial products company’s stock worth $173,000 after buying an additional 361 shares during the last quarter. 79.53% of the stock is currently owned by institutional investors and hedge funds.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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