Parker-Hannifin Corporation (PH) Earns Outperform Rating from Analysts at Wolfe Research
Stock analysts at Wolfe Research began coverage on shares of Parker-Hannifin Corporation (NYSE:PH) in a report released on Tuesday, July 11th. The brokerage set an “outperform” rating and a $182.00 price target on the industrial products company’s stock. Wolfe Research’s price target would indicate a potential upside of 10.83% from the company’s previous close.
PH has been the subject of a number of other research reports. Jefferies Group LLC reiterated a “hold” rating and set a $145.00 target price on shares of Parker-Hannifin Corporation in a research report on Friday, March 17th. Goldman Sachs Group Inc assumed coverage on shares of Parker-Hannifin Corporation in a research report on Monday, March 13th. They issued a “buy” rating and a $180.00 price objective for the company. Zacks Investment Research lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 7th. Credit Suisse Group set a $169.00 price objective on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Wednesday, April 12th. Finally, Barclays PLC restated an “equal weight” rating and issued a $148.00 price objective (down from $158.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday, April 19th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Parker-Hannifin Corporation currently has a consensus rating of “Buy” and an average target price of $168.56.
Shares of Parker-Hannifin Corporation (NYSE PH) opened at 164.22 on Tuesday. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $167.50. The company’s 50 day moving average is $162.13 and its 200 day moving average is $157.33. The company has a market cap of $21.87 billion, a P/E ratio of 23.92 and a beta of 1.40.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the company posted $1.90 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities analysts predict that Parker-Hannifin Corporation will post $9.05 earnings per share for the current year.
In related news, VP Robert W. Malone sold 793 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $159.36, for a total value of $126,372.48. Following the transaction, the vice president now owns 11,549 shares in the company, valued at approximately $1,840,448.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the company’s 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 completion of the transaction, the vice president now owns 21,753 shares in the company, valued at approximately $3,501,797.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,073 shares of company stock worth $1,450,748. Company insiders own 2.73% of the company’s stock.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Parker-Hannifin Corporation by 2,619.0% in the first quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock worth $1,309,223,000 after buying an additional 7,865,974 shares during the period. FMR LLC raised its position in shares of Parker-Hannifin Corporation by 1,163.3% in the first quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock worth $281,346,000 after buying an additional 1,615,987 shares during the period. Jennison Associates LLC raised its position in shares of Parker-Hannifin Corporation by 28.5% in the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after buying an additional 1,336,541 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in shares of Parker-Hannifin Corporation during the first quarter worth $81,629,000. Finally, Longview Partners Guernsey LTD raised its stake in Parker-Hannifin Corporation by 7.6% in the second quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock valued at $820,669,000 after buying an additional 362,076 shares during the last quarter. 79.78% of the stock is owned by institutional investors and hedge funds.
About Parker-Hannifin Corporation
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 & Stock Ratings for Parker-Hannifin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corporation and related stocks with our FREE daily email newsletter.