Parker-Hannifin (PH) Stock Rating Reaffirmed by Stifel Nicolaus
Stifel Nicolaus reaffirmed their buy rating on shares of Parker-Hannifin (NYSE:PH) in a report published on Tuesday morning, Marketbeat reports. They currently have a $245.00 target price on the industrial products company’s stock, up from their prior target price of $218.00.
Several other research analysts have also commented on the company. Cowen reissued a hold rating and issued a $180.00 price target on shares of Parker-Hannifin in a research report on Wednesday, January 10th. Zacks Investment Research lowered Parker-Hannifin from a buy rating to a hold rating in a research report on Thursday, January 4th. BMO Capital Markets boosted their price target on Parker-Hannifin to $225.00 and gave the stock an outperform rating in a research report on Thursday, January 4th. ValuEngine lowered Parker-Hannifin from a buy rating to a hold rating in a research report on Friday, December 1st. Finally, Deutsche Bank upped their target price on Parker-Hannifin to $200.00 and gave the company a buy rating in a research report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $198.21.
Parker-Hannifin (NYSE:PH) traded up $0.40 on Tuesday, hitting $210.94. The stock had a trading volume of 902,469 shares, compared to its average volume of 882,608. The company has a market cap of $28,100.00, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 1.87 and a beta of 1.40. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. Parker-Hannifin has a 52-week low of $141.06 and a 52-week high of $212.80.
In other news, COO Lee C. Banks sold 5,286 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $186.38, for a total value of $985,204.68. Following the transaction, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at $21,025,155.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph R. Leonti sold 5,279 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $179.07, for a total value of $945,310.53. Following the completion of the transaction, the vice president now directly owns 8,032 shares in the company, valued at $1,438,290.24. The disclosure for this sale can be found here. Insiders have sold a total of 22,495 shares of company stock worth $4,127,941 over the last ninety days. 1.12% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in PH. IHT Wealth Management LLC boosted its stake in shares of Parker-Hannifin by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after buying an additional 20 shares during the last quarter. BT Investment Management Ltd purchased a new stake in shares of Parker-Hannifin in the second quarter worth about $124,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Parker-Hannifin in the third quarter worth about $168,000. Sun Life Financial INC boosted its stake in shares of Parker-Hannifin by 8,108.3% in the second quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after buying an additional 973 shares during the last quarter. Finally, Americafirst Capital Management LLC purchased a new stake in shares of Parker-Hannifin in the second quarter worth about $167,000. 78.05% of the stock is currently owned by institutional investors and hedge funds.
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Parker-Hannifin 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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