Parker-Hannifin Corporation (NYSE:PH) Rating Lowered to Hold at BidaskClub
Parker-Hannifin Corporation (NYSE:PH) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Monday, July 24th.
Several other equities analysts have also commented on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $189.00 price objective on shares of Parker-Hannifin Corporation in a research report on Friday, July 14th. Wolfe Research began coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 price target on the stock. Jefferies Group LLC set a $163.00 price target on shares of Parker-Hannifin Corporation and gave the stock a “hold” rating in a report on Wednesday, June 28th. ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Credit Suisse Group set a $189.00 price target on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Sunday, May 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $168.69.
Parker-Hannifin Corporation (NYSE:PH) traded down 0.27% during mid-day trading on Monday, reaching $155.15. 867,073 shares of the company’s stock were exchanged. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $167.50. The firm has a market capitalization of $20.68 billion, a P/E ratio of 21.40 and a beta of 1.40. The company’s 50-day moving average is $162.38 and its 200 day moving average is $158.39.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. Parker-Hannifin Corporation’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the firm posted $1.90 EPS. Equities analysts predict that Parker-Hannifin Corporation will post $9.07 earnings per share for the current fiscal year.
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In related news, VP Martin C. Maxwell sold 2,850 shares of Parker-Hannifin Corporation stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $160.08, for a total value of $456,228.00. Following the sale, the vice president now owns 21,968 shares of the company’s stock, valued at approximately $3,516,637.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of Parker-Hannifin Corporation stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $160.98, for a total transaction of $407,279.40. Following the completion of the sale, the vice president now directly owns 21,753 shares in the company, valued at approximately $3,501,797.94. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in 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 valued at $1,309,223,000 after buying an additional 7,865,974 shares in the last quarter. FMR LLC raised its position in 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 valued at $281,346,000 after buying an additional 1,615,987 shares in the last quarter. Jennison Associates LLC raised its position in 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 valued at $963,146,000 after buying an additional 1,336,541 shares in the last quarter. Voya Investment Management LLC raised its position in Parker-Hannifin Corporation by 1,175.0% in the second quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock valued at $215,499,000 after buying an additional 1,242,624 shares in the last quarter. Finally, Koch Industries Inc. bought a new position in Parker-Hannifin Corporation during the second quarter valued at approximately $521,000. Institutional investors and hedge funds own 80.66% of the company’s stock.
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.
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