Parker-Hannifin Corporation (NYSE:PH) has been assigned a $198.00 target price by equities researchers at Stifel Nicolaus in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 20.57% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Jefferies Group LLC reaffirmed a “hold” rating and set a $163.00 target price on shares of Parker-Hannifin Corporation in a research note on Thursday. BidaskClub cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Wolfe Research assumed coverage on Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They set an “outperform” rating and a $182.00 target price for the company. ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, Credit Suisse Group set a $189.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a research note on Sunday, May 28th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Parker-Hannifin Corporation has an average rating of “Buy” and an average target price of $168.56.

Parker-Hannifin Corporation (NYSE:PH) traded down 0.67% during midday trading on Friday, reaching $164.22. The company’s stock had a trading volume of 918,920 shares. The company’s 50-day moving average price is $162.13 and its 200-day moving average price is $157.33. The company has a market capitalization of $21.87 billion, a price-to-earnings ratio of 23.92 and a beta of 1.40. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $167.50.

Parker-Hannifin Corporation (NYSE:PH) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same quarter last year, the business posted $1.90 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Corporation will post $9.05 earnings per share for the current fiscal year.

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In related news, VP Robert W. Malone sold 793 shares of the stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $159.36, for a total value of $126,372.48. Following the completion of the sale, the vice president now directly owns 11,549 shares of the company’s stock, valued at approximately $1,840,448.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William R. Bowman sold 2,900 shares of the stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $158.92, for a total value of $460,868.00. Following the completion of the sale, the vice president now directly owns 1,172 shares of the company’s stock, valued at $186,254.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,073 shares of company stock valued at $1,450,748. Company insiders own 2.73% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Parker-Hannifin Corporation by 2,619.0% in the first quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock valued at $1,309,223,000 after buying an additional 7,865,974 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Parker-Hannifin Corporation by 28.5% in the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock valued at $963,146,000 after buying an additional 1,336,541 shares in the last quarter. Longview Partners Guernsey LTD increased its stake in shares of Parker-Hannifin Corporation by 7.6% in the second quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock valued at $820,669,000 after buying an additional 362,076 shares in the last quarter. FMR LLC increased its stake in shares of Parker-Hannifin Corporation by 1,163.3% in the first quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock valued at $281,346,000 after buying an additional 1,615,987 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Parker-Hannifin Corporation by 9.7% in the first quarter. Geode Capital Management LLC now owns 1,353,921 shares of the industrial products company’s stock valued at $216,760,000 after buying an additional 119,228 shares in the last quarter. 79.78% of the stock is owned by hedge funds and other institutional investors.

About Parker-Hannifin Corporation

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.

Analyst Recommendations for Parker-Hannifin Corporation (NYSE:PH)

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