Parker-Hannifin (NYSE:PH)‘s stock had its “hold” rating reaffirmed by investment analysts at Cowen in a research report issued to clients and investors on Friday. They presently have a $165.00 price target on the industrial products company’s stock. Cowen’s target price would suggest a potential downside of 0.05% from the company’s previous close.
PH has been the topic of a number of other reports. Zacks Investment Research lowered Parker-Hannifin from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. Goldman Sachs Group lowered Parker-Hannifin from a “buy” rating to a “neutral” rating and set a $164.00 price objective on the stock. in a research note on Monday. Wells Fargo & Co reiterated a “market perform” rating on shares of Parker-Hannifin in a research note on Thursday, June 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $200.00 price objective (down from $232.00) on shares of Parker-Hannifin in a research note on Monday, April 9th. Finally, JPMorgan Chase & Co. dropped their price objective on Parker-Hannifin from $210.00 to $199.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 10th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $190.06.
NYSE PH opened at $165.08 on Friday. Parker-Hannifin has a fifty-two week low of $152.47 and a fifty-two week high of $212.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.09 and a current ratio of 1.59. The stock has a market cap of $21.55 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.26 and a beta of 1.41.
Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, April 26th. The industrial products company reported $2.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The company had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.67 billion. Parker-Hannifin had a return on equity of 23.63% and a net margin of 7.16%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $2.11 earnings per share. analysts anticipate that Parker-Hannifin will post 10.09 earnings per share for the current fiscal year.
In related news, Director Candy M. Obourn sold 1,825 shares of the business’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $164.93, for a total transaction of $300,997.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Robert W. Malone sold 430 shares of the business’s stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $165.12, for a total value of $71,001.60. Following the transaction, the vice president now owns 14,816 shares in the company, valued at $2,446,417.92. The disclosure for this sale can be found here. Insiders have sold 14,578 shares of company stock worth $2,564,440 over the last 90 days. Corporate insiders own 1.12% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Advisor Group Inc. boosted its holdings in Parker-Hannifin by 13.8% during the fourth quarter. Advisor Group Inc. now owns 5,090 shares of the industrial products company’s stock valued at $1,017,000 after purchasing an additional 616 shares in the last quarter. LPL Financial LLC boosted its holdings in Parker-Hannifin by 76.8% during the fourth quarter. LPL Financial LLC now owns 10,969 shares of the industrial products company’s stock valued at $2,189,000 after purchasing an additional 4,766 shares in the last quarter. Gotham Asset Management LLC acquired a new stake in Parker-Hannifin during the fourth quarter valued at approximately $2,037,000. Lake Street Advisors Group LLC acquired a new stake in Parker-Hannifin during the fourth quarter valued at approximately $248,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its holdings in Parker-Hannifin by 41.9% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,800 shares of the industrial products company’s stock valued at $1,756,000 after purchasing an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 79.94% of the company’s stock.
Parker-Hannifin Company Profile
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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