Parker-Hannifin Corp.’s (PH) “Market Perform” Rating Reaffirmed at Avondale Partners
Other analysts have also issued research reports about the stock. Barclays PLC lifted their price target on shares of Parker-Hannifin Corp. from $120.00 to $121.00 and gave the company an equal weight rating in a research report on Friday, August 5th. Jefferies Group lifted their target price on shares of Parker-Hannifin Corp. from $100.00 to $110.00 and gave the company a hold rating in a report on Friday, August 5th. Citigroup Inc. lifted their target price on shares of Parker-Hannifin Corp. from $115.00 to $120.00 and gave the company a neutral rating in a report on Friday, August 5th. KeyCorp reiterated a buy rating and issued a $136.00 target price on shares of Parker-Hannifin Corp. in a report on Thursday, September 8th. Finally, Argus reiterated a neutral rating on shares of Parker-Hannifin Corp. in a report on Thursday, August 18th. Two 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. Parker-Hannifin Corp. presently has an average rating of Hold and an average target price of $117.24.
Parker-Hannifin Corp. (NYSE:PH) traded up 0.73% during mid-day trading on Monday, reaching $123.97. The company’s stock had a trading volume of 245,273 shares. The company’s 50-day moving average price is $123.40 and its 200 day moving average price is $115.98. The firm has a market capitalization of $16.60 billion, a price-to-earnings ratio of 21.05 and a beta of 1.49. Parker-Hannifin Corp. has a 52 week low of $83.32 and a 52 week high of $128.24.
Parker-Hannifin Corp. (NYSE:PH) last released its quarterly 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. The firm had revenue of $2.96 billion for 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%. The business’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.73 EPS. On average, equities analysts forecast that Parker-Hannifin Corp. will post $6.80 earnings per share for the current fiscal year.
In other news, VP Kurt A. Keller sold 757 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $122.12, for a total value of $92,444.84. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert W. Bond sold 14,043 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $124.51, for a total transaction of $1,748,493.93. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. BB&T Securities LLC purchased a new position in shares of Parker-Hannifin Corp. during the first quarter valued at about $1,763,000. Credit Agricole S A increased its position in shares of Parker-Hannifin Corp. by 8.5% in the first quarter. Credit Agricole S A now owns 110,109 shares of the company’s stock valued at $12,232,000 after buying an additional 8,582 shares during the last quarter. AMF Pensionsforsakring AB increased its position in shares of Parker-Hannifin Corp. by 7.0% in the first quarter. AMF Pensionsforsakring AB now owns 272,115 shares of the company’s stock valued at $30,227,000 after buying an additional 17,791 shares during the last quarter. Aviva PLC increased its position in shares of Parker-Hannifin Corp. by 0.8% in the first quarter. Aviva PLC now owns 78,870 shares of the company’s stock valued at $8,761,000 after buying an additional 608 shares during the last quarter. Finally, Ancora Inverness LLC increased its position in shares of Parker-Hannifin Corp. by 7.3% in the first quarter. Ancora Inverness LLC now owns 11,834 shares of the company’s stock valued at $1,315,000 after buying an additional 808 shares during the last quarter. Institutional investors and hedge funds 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.
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