Avondale Partners Reaffirms “Market Perform” Rating for Parker-Hannifin Corp. (PH)
Parker-Hannifin Corp. (NYSE:PH)‘s stock had its “market perform” rating reaffirmed by equities researchers at Avondale Partners in a report released on Monday.
Several other analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a report on Tuesday, June 21st. KeyCorp restated a “buy” rating and set a $136.00 price target on shares of Parker-Hannifin Corp. in a report on Thursday, September 8th. Credit Suisse Group AG restated a “buy” rating and set a $131.00 price target on shares of Parker-Hannifin Corp. in a report on Friday, August 5th. Stifel Nicolaus upgraded shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and raised their price target for the stock from $131.00 to $141.00 in a report on Wednesday, October 5th. Finally, Barclays PLC raised their price target on shares of Parker-Hannifin Corp. from $120.00 to $121.00 and gave the stock an “equal weight” rating in a report on Friday, August 5th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $117.24.
Shares of Parker-Hannifin Corp. (NYSE:PH) traded up 0.73% during trading on Monday, hitting $123.97. 239,510 shares of the company traded hands. The firm has a 50 day moving average price of $123.40 and a 200-day moving average price of $115.98. Parker-Hannifin Corp. has a one year low of $83.32 and a one year high of $128.24. The stock has a market cap of $16.60 billion, a price-to-earnings ratio of 21.05 and a beta of 1.49.
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Parker-Hannifin Corp. (NYSE:PH) last released its earnings results on Thursday, August 4th. The company reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.15. The business had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.93 billion. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period last year, the firm posted $1.73 earnings per share. Analysts predict that Parker-Hannifin Corp. will post $6.80 EPS for the current year.
In other news, VP Martin C. Maxwell sold 893 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $120.62, for a total value of $107,713.66. Following the sale, the vice president now owns 39,451 shares in the company, valued at approximately $4,758,579.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Catherine A. Suever sold 1,019 shares of the business’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $123.29, for a total transaction of $125,632.51. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the stock. BB&T Securities LLC purchased a new stake in shares of Parker-Hannifin Corp. during the first quarter valued at approximately $1,763,000. Credit Agricole S A increased its stake in shares of Parker-Hannifin Corp. by 8.5% in the first quarter. Credit Agricole S A now owns 110,109 shares of the company’s stock valued at $12,232,000 after buying an additional 8,582 shares in the last quarter. AMF Pensionsforsakring AB increased its stake in shares of Parker-Hannifin Corp. by 7.0% in the first quarter. AMF Pensionsforsakring AB now owns 272,115 shares of the company’s stock valued at $30,227,000 after buying an additional 17,791 shares in the last quarter. Aviva PLC increased its stake in shares of Parker-Hannifin Corp. by 0.8% in the first quarter. Aviva PLC now owns 78,870 shares of the company’s stock valued at $8,761,000 after buying an additional 608 shares in the last quarter. Finally, Ancora Inverness LLC increased its stake in shares of Parker-Hannifin Corp. by 7.3% in the first quarter. Ancora Inverness LLC now owns 11,834 shares of the company’s stock valued at $1,315,000 after buying an additional 808 shares in the last quarter. Institutional investors own 80.75% of the company’s stock.
Parker-Hannifin Corp. 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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