Parker-Hannifin Corp (PH) Stock Rating Reaffirmed by BMO Capital Markets
Parker-Hannifin Corp (NYSE:PH)‘s stock had its “buy” rating restated by analysts at BMO Capital Markets in a research report issued to clients and investors on Thursday. They currently have a $175.00 target price on the industrial products company’s stock. BMO Capital Markets’ target price indicates a potential upside of 13.03% from the stock’s current price.
Other equities analysts have also issued reports about the company. Bank of America Corp upgraded Parker-Hannifin Corp from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $157.00 to $180.00 in a research note on Wednesday, February 15th. Cowen and Company lifted their price objective on Parker-Hannifin Corp from $110.00 to $140.00 and gave the stock a “market perform” rating in a research note on Monday, March 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $145.00 price objective on shares of Parker-Hannifin Corp in a research note on Friday, March 17th. Barclays PLC reiterated a “hold” rating and issued a $138.00 price objective on shares of Parker-Hannifin Corp in a research note on Wednesday, January 18th. Finally, Argus upgraded Parker-Hannifin Corp from a “hold” rating to a “buy” rating and set a $176.00 price objective on the stock in a research note on Tuesday, February 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $157.75.
Parker-Hannifin Corp (NYSE:PH) opened at 154.82 on Thursday. The firm has a market capitalization of $20.64 billion, a price-to-earnings ratio of 23.88 and a beta of 1.28. The company has a 50-day moving average price of $157.99 and a 200 day moving average price of $143.70. Parker-Hannifin Corp has a 1-year low of $99.10 and a 1-year high of $163.14. Parker-Hannifin Corp also saw some unusual options trading on Monday. Traders acquired 3,438 put options on the stock. This represents an increase of 483% compared to the typical daily volume of 590 put options.
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Parker-Hannifin Corp (NYSE:PH) last posted its earnings results on Thursday, February 2nd. The industrial products company reported $1.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.39 by $0.52. Parker-Hannifin Corp had a return on equity of 20.08% and a net margin of 7.86%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the company earned $1.52 earnings per share. The business’s revenue was down 1.3% compared to the same quarter last year. Equities analysts anticipate that Parker-Hannifin Corp will post $7.49 earnings per share for the current year.
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In other Parker-Hannifin Corp news, VP William G. Eline sold 5,586 shares of Parker-Hannifin Corp stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $157.71, for a total transaction of $880,968.06. Following the sale, the vice president now directly owns 15,543 shares of the company’s stock, valued at $2,451,286.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Thomas L. Williams sold 18,435 shares of Parker-Hannifin Corp stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $160.00, for a total value of $2,949,600.00. Following the sale, the chairman now directly owns 69,952 shares in the company, valued at $11,192,320. The disclosure for this sale can be found here. Insiders have sold 42,184 shares of company stock worth $6,675,032 over the last ninety days. Company insiders own 2.73% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Chicago Trust Company acquired a new position in shares of Parker-Hannifin Corp during the fourth quarter valued at approximately $778,000. Fourth Swedish National Pension Fund increased its position in shares of Parker-Hannifin Corp by 4.7% in the fourth quarter. Fourth Swedish National Pension Fund now owns 27,970 shares of the industrial products company’s stock valued at $2,713,000 after buying an additional 1,250 shares during the last quarter. Union Bankshares increased its position in shares of Parker-Hannifin Corp by 10.3% in the fourth quarter. Union Bankshares now owns 25,199 shares of the industrial products company’s stock valued at $2,444,000 after buying an additional 2,352 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Parker-Hannifin Corp by 1.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 212,729 shares of the industrial products company’s stock valued at $20,666,000 after buying an additional 3,553 shares during the last quarter. Finally, CIBC World Markets increased its position in shares of Parker-Hannifin Corp by 230.3% in the fourth quarter. CIBC World Markets now owns 16,456 shares of the industrial products company’s stock valued at $1,596,000 after buying an additional 11,474 shares during the last quarter. 82.72% of the stock is currently owned by institutional investors and hedge funds.
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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