Parker-Hannifin Corporation (PH) Receives Average Rating of “Buy” from Analysts
Shares of Parker-Hannifin Corporation (NYSE:PH) have earned a consensus rating of “Buy” from the twenty-three analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $177.18.
Several equities research analysts have recently issued reports on the company. ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. BidaskClub raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Jefferies Group LLC set a $163.00 price objective on Parker-Hannifin Corporation and gave the company a “hold” rating in a research note on Wednesday, June 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $176.00 price objective on shares of Parker-Hannifin Corporation in a research note on Thursday, July 6th. Finally, Wolfe Research assumed coverage on Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 price objective for the company.
Parker-Hannifin Corporation (NYSE:PH) traded up 0.03% during mid-day trading on Wednesday, reaching $177.56. The company had a trading volume of 533,563 shares. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $178.50. The firm has a 50-day moving average of $169.27 and a 200 day moving average of $162.15. The company has a market capitalization of $23.64 billion, a PE ratio of 24.49 and a beta of 1.42.
Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.14. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 EPS. On average, analysts predict that Parker-Hannifin Corporation will post $9.11 earnings per share for the current fiscal year.
In other news, VP Joseph R. Leonti sold 408 shares of Parker-Hannifin Corporation stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total value of $65,565.60. Following the transaction, the vice president now directly owns 7,318 shares in the company, valued at approximately $1,176,002.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,389 shares of company stock valued at $878,913. 1.12% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in PH. Israel Discount Bank of New York increased its holdings in shares of Parker-Hannifin Corporation by 31.6% in the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 150 shares during the period. Parallel Advisors LLC grew its stake in Parker-Hannifin Corporation by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after buying an additional 24 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in Parker-Hannifin Corporation during the 1st quarter worth $112,000. IHT Wealth Management LLC grew its stake in Parker-Hannifin Corporation by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after buying an additional 20 shares during the last quarter. Finally, BT Investment Management Ltd purchased a new position in Parker-Hannifin Corporation during the 2nd quarter worth $124,000. Institutional investors and hedge funds own 79.72% of the company’s stock.
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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.
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