Parker-Hannifin Corp Reaches New 12-Month High at $107.65 (PH)
Shares of Parker-Hannifin Corp (NYSE:PH) hit a new 52-week high during trading on Wednesday, AR Network reports. The stock traded as high as $107.65 and last traded at $107.48, with a volume of 729,133 shares trading hands. The stock had previously closed at $105.22.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley initiated coverage on shares of Parker-Hannifin Corp (NYSE:PH) in a research note to investors on Thursday, September 5th. They set an “underweight” rating and a $92.00 price target on the stock. Separately, analysts at ISI Group downgraded shares of Parker-Hannifin Corp (NYSE:PH) from a “strong-buy” rating to a “buy” rating in a research note to investors on Friday, August 9th. They now have a $115.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Parker-Hannifin Corp (NYSE:PH) from $99.00 to $105.00 in a research note to investors on Thursday, August 8th.
Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. Parker-Hannifin Corp presently has a consensus rating of “Hold” and an average target price of $94.44.
In other Parker-Hannifin Corp news, VP Yoon Michael Chung sold 4,800 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $104.43, for a total transaction of $501,264.00. Following the completion of the sale, the vice president now directly owns 16,384 shares of the company’s stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Parker-Hannifin Corp has a 52-week low of $75.80 and a 52-week high of $107.65. The stock has a 50-day moving average of $103.6 and a 200-day moving average of $97.28. The company has a market cap of $16.050 billion and a P/E ratio of 16.81.
Parker-Hannifin Corp (NYSE:PH) last released its earnings data on Tuesday, August 6th. The company reported $1.78 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.97 by $0.19. The company had revenue of $3.43 million for the quarter, compared to the consensus estimate of $3.47 million. During the same quarter last year, the company posted $1.96 earnings per share. Parker-Hannifin Corp’s revenue was up .5% compared to the same quarter last year. Analysts expect that Parker-Hannifin Corp will post $6.58 EPS for the current fiscal year.
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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