Parker-Hannifin Reaches New 12-Month High at $130.44 (PH)
Parker-Hannifin (NYSE:PH)’s share price reached a new 52-week high during trading on Monday , American Banking News reports. The company traded as high as $130.44 and last traded at $129.51, with a volume of 289,232 shares trading hands. The stock had previously closed at $128.20.
PH has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Parker-Hannifin in a research note on Thursday, May 29th. They now have a $131.00 price target on the stock. Separately, analysts at S&P Equity Research upgraded shares of Parker-Hannifin to a “hold” rating in a research note on Wednesday, April 30th. Finally, analysts at MKM Partners raised their price target on shares of Parker-Hannifin from $130.00 to $135.00 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $124.33.
The stock’s 50-day moving average is $124.6 and its 200-day moving average is $121.4. The company has a market cap of $19.274 billion and a price-to-earnings ratio of 19.19.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Tuesday, April 29th. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.23. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same quarter in the previous year, the company posted $1.68 earnings per share. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts predict that Parker-Hannifin will post $6.52 earnings per share for the current fiscal year.
In other Parker-Hannifin news, VP John G. Dedinsky, Jr. sold 2,170 shares of the stock on the open market in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $127.91, for a total transaction of $277,564.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.