Parker-Hannifin Corporation (NYSE:PH)‘s stock had its “overweight” rating reaffirmed by equities researchers at KeyCorp in a research note issued on Saturday. They presently have a $185.00 price target on the industrial products company’s stock. KeyCorp’s price target indicates a potential upside of 9.02% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on PH. Jefferies Group LLC reaffirmed a “hold” rating and issued a $165.00 target price (up from $163.00) on shares of Parker-Hannifin Corporation in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Credit Suisse Group set a $189.00 target price on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research note on Sunday, May 28th. BidaskClub downgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Robert W. Baird set a $163.00 target price on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $174.38.

Parker-Hannifin Corporation (PH) opened at 169.69 on Friday. The company’s 50-day moving average is $161.07 and its 200-day moving average is $159.70. The firm has a market capitalization of $22.59 billion, a PE ratio of 23.41 and a beta of 1.41. Parker-Hannifin Corporation has a 52-week low of $118.77 and a 52-week high of $170.67.

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 analysts’ consensus estimates of $2.31 by $0.14. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. Parker-Hannifin Corporation’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the firm posted $1.90 earnings per share. Analysts forecast that Parker-Hannifin Corporation will post $9.08 EPS for the current fiscal year.

WARNING: This story was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/09/16/parker-hannifin-corporation-ph-receives-overweight-rating-from-keycorp.html.

In related news, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction on Monday, August 28th. The shares were sold at an average price of $158.35, for a total value of $79,175.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark J. Hart sold 600 shares of Parker-Hannifin Corporation stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $160.72, for a total transaction of $96,432.00. Following the completion of the transaction, the executive vice president now directly owns 5,851 shares in the company, valued at $940,372.72. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,389 shares of company stock worth $878,913. 2.73% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of PH. Janus Capital Management increased its stake in shares of Parker-Hannifin Corporation by 216.1% in the third quarter. Janus Capital Management now owns 20,450 shares of the industrial products company’s stock worth $1,990,000 after buying an additional 13,980 shares during the period. Chicago Trust Company purchased a new position in shares of Parker-Hannifin Corporation in the fourth quarter worth $778,000. Union Bankshares increased its stake in shares of Parker-Hannifin Corporation by 10.3% in the fourth quarter. Union Bankshares now owns 25,199 shares of the industrial products company’s stock worth $2,444,000 after buying an additional 2,352 shares during the period. Creative Planning increased its stake in shares of Parker-Hannifin Corporation by 0.4% in the fourth quarter. Creative Planning now owns 18,658 shares of the industrial products company’s stock worth $1,809,000 after buying an additional 76 shares during the period. Finally, Nisa Investment Advisors increased its stake in shares of Parker-Hannifin Corporation by 2.4% in the fourth quarter. Nisa Investment Advisors now owns 46,068 shares of the industrial products company’s stock worth $4,468,000 after buying an additional 1,100 shares during the period. 80.24% of the stock is currently owned by 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)

Receive News & Ratings for Parker-Hannifin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corporation and related companies with MarketBeat.com's FREE daily email newsletter.