Avondale Partners Reiterates “Market Perform” Rating for Parker-Hannifin Corp. (PH)
Parker-Hannifin Corp. (NYSE:PH)‘s stock had its “market perform” rating reiterated by equities researchers at Avondale Partners in a research report issued on Monday.
A number of other analysts also recently weighed in on the stock. Goldman Sachs Group Inc. raised shares of Parker-Hannifin Corp. from a “sell” rating to a “neutral” rating and increased their target price for the company from $106.00 to $120.00 in a research report on Tuesday. Stifel Nicolaus raised shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and increased their target price for the company from $131.00 to $141.00 in a research report on Wednesday, October 5th. Zacks Investment Research upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Tuesday, October 4th. Jefferies Group restated a “hold” rating on shares of Parker-Hannifin Corp. in a report on Monday, September 12th. Finally, 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. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $117.24.
Parker-Hannifin Corp. (NYSE:PH) traded up 0.72% during mid-day trading on Monday, hitting $123.96. 246,251 shares of the stock were exchanged. The company has a market capitalization of $16.60 billion, a PE ratio of 21.05 and a beta of 1.49. The stock 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 1-year low of $83.32 and a 1-year high of $128.24.
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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, beating analysts’ consensus estimates of $1.75 by $0.15. The business earned $2.96 billion during 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 company’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.73 EPS. On average, equities analysts anticipate that Parker-Hannifin Corp. will post $6.80 earnings per share for the current fiscal year.
In other news, VP Kurt A. Keller sold 757 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $122.12, for a total transaction of $92,444.84. Following the completion of the sale, the vice president now directly owns 28,904 shares of the company’s stock, valued at approximately $3,529,756.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Catherine A. Suever sold 1,019 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $123.29, for a total value of $125,632.51. The disclosure for this sale can be found here. Insiders own 2.73% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Parker-Hannifin Corp. by 1.4% in the second quarter. Vanguard Group Inc. now owns 8,825,955 shares of the company’s stock valued at $953,645,000 after buying an additional 118,306 shares during the period. BlackRock Fund Advisors raised its stake in shares of Parker-Hannifin Corp. by 1.8% in the second quarter. BlackRock Fund Advisors now owns 2,092,606 shares of the company’s stock valued at $226,106,000 after buying an additional 37,187 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Parker-Hannifin Corp. by 40.0% in the second quarter. TIAA CREF Investment Management LLC now owns 1,498,918 shares of the company’s stock valued at $161,958,000 after buying an additional 428,032 shares during the period. American Century Companies Inc. raised its stake in shares of Parker-Hannifin Corp. by 25.6% in the second quarter. American Century Companies Inc. now owns 1,369,527 shares of the company’s stock valued at $147,977,000 after buying an additional 279,278 shares during the period. Finally, Beutel Goodman & Co Ltd. purchased a new stake in shares of Parker-Hannifin Corp. during the second quarter valued at $103,826,000. 80.75% of the stock is owned by hedge funds and other institutional investors.
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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