Goldman Sachs Group Inc. Upgrades Parker-Hannifin Corp. (PH) to Neutral
Parker-Hannifin Corp. (NYSE:PH) was upgraded by stock analysts at Goldman Sachs Group Inc. from a “sell” rating to a “neutral” rating in a research report issued on Tuesday.
Other research analysts have also issued research reports about the stock. KeyCorp reiterated a “buy” rating and set a $136.00 price objective on shares of Parker-Hannifin Corp. in a research note on Thursday, September 8th. Zacks Investment Research upgraded shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research note on Tuesday, June 21st. Credit Suisse Group AG reiterated a “buy” rating and set a $131.00 price objective on shares of Parker-Hannifin Corp. in a research note on Friday, August 5th. Stifel Nicolaus upgraded shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $131.00 to $141.00 in a research note on Wednesday, October 5th. Finally, Barclays PLC boosted their price objective on shares of Parker-Hannifin Corp. from $120.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $116.12.
Parker-Hannifin Corp. (NYSE:PH) opened at 125.09 on Tuesday. Parker-Hannifin Corp. has a 52-week low of $83.32 and a 52-week high of $128.24. The firm has a 50-day moving average of $123.43 and a 200 day moving average of $115.92. The company has a market capitalization of $16.75 billion, a P/E ratio of 21.24 and a beta of 1.49.
Parker-Hannifin Corp. (NYSE:PH) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.90 EPS for the quarter, topping the consensus estimate of $1.75 by $0.15. The firm earned $2.96 billion during the quarter, compared to analyst estimates of $2.93 billion. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. Parker-Hannifin Corp.’s revenue was down 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.73 EPS. Equities analysts predict that Parker-Hannifin Corp. will post $6.80 earnings per share for the current fiscal year.
In other news, VP Robert W. Bond sold 14,043 shares of the company’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Kurt A. Keller sold 757 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now directly owns 28,904 shares in the company, valued at $3,529,756.48. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. purchased a new stake in shares of Parker-Hannifin Corp. during the first quarter worth about $101,000. Van ECK Associates Corp increased 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 during the period. Signaturefd LLC increased 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 during the period. Checchi Capital Advisers LLC increased 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 during the period. Finally, Mizuho Asset Management Co. Ltd. increased 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 during the period. 80.75% of the stock is currently owned by institutional investors and hedge funds.
Parker-Hannifin Corp. 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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