Parker-Hannifin Corp (NYSE:PH) was downgraded by equities researchers at ISI Group from a “buy” rating to a “neutral” rating in a research report issued on Thursday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on PH. Analysts at Jefferies Group upgraded shares of Parker-Hannifin Corp from a “hold” rating to a “buy” rating in a research note to investors on Thursday. They now have a $135.00 price target on the stock, up previously from $115.00. Finally, analysts at Credit Suisse raised their price target on shares of Parker-Hannifin Corp from $114.00 to $122.00 in a research note to investors on Monday, October 21st. They now have an “outperform” rating on the stock. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $98.86.
Shares of Parker-Hannifin Corp (NYSE:PH) opened at 115.94 on Thursday. Parker-Hannifin Corp has a 52 week low of $77.34 and a 52 week high of $117.94. The stock’s 50-day moving average is $110.5 and its 200-day moving average is $101.8. The company has a market cap of $17.303 billion and a price-to-earnings ratio of 18.40.
Parker-Hannifin Corp (NYSE:PH) last released its earnings data on Friday, October 18th. The company reported $1.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.48 by $0.13. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the company posted $1.57 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Corp will post $6.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, December 6th. Investors of record on Friday, November 8th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Wednesday, November 6th.
Parker-Hannifin Corporation (NYSE:PH) is a full-line diversified manufacturer of motion and control technologies and systems, including fluid power systems, electromechanical controls and related components.
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