Parker-Hannifin Corporation (PH) Earns “Buy” Rating from KeyCorp
Parker-Hannifin Corporation (NYSE:PH)‘s stock had its “buy” rating reiterated by stock analysts at KeyCorp in a research note issued to investors on Thursday. They currently have a $200.00 price objective on the industrial products company’s stock. KeyCorp’s target price points to a potential upside of 11.06% from the stock’s previous close. KeyCorp also issued estimates for Parker-Hannifin Corporation’s Q1 2018 earnings at $1.99 EPS, FY2018 earnings at $9.10 EPS and FY2019 earnings at $10.25 EPS.
A number of other brokerages also recently issued reports on PH. Zacks Investment Research upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $198.00 price objective on the stock in a research report on Tuesday. ValuEngine downgraded Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company increased their price objective on Parker-Hannifin Corporation from $181.50 to $196.00 and gave the stock a “market perform” rating in a research report on Friday, October 6th. Cowen and Company reiterated a “hold” rating and issued a $140.00 price objective on shares of Parker-Hannifin Corporation in a research report on Friday, October 6th. Finally, Morgan Stanley downgraded Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price objective on the stock. in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $178.06.
Parker-Hannifin Corporation (NYSE:PH) traded up 1.42% during mid-day trading on Thursday, reaching $180.08. The company had a trading volume of 793,266 shares. The company’s 50-day moving average is $169.27 and its 200-day moving average is $162.15. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $180.19. The stock has a market capitalization of $23.97 billion, a PE ratio of 24.84 and a beta of 1.42.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping the Zacks’ 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 firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the company earned $1.90 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin Corporation will post $9.11 earnings per share for the current year.
In other news, VP Martin C. Maxwell sold 2,640 shares of the business’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total transaction of $437,368.80. Following the completion of the sale, the vice president now owns 31,718 shares of the company’s stock, valued at approximately $5,254,721.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joseph R. Leonti sold 408 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total transaction of $65,565.60. Following the sale, the vice president now directly owns 7,318 shares of the company’s stock, valued at approximately $1,176,002.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,389 shares of company stock valued at $878,913. Insiders own 1.12% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. IHT Wealth Management LLC raised its position in shares of 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 valued at $119,000 after buying an additional 20 shares in the last quarter. Parallel Advisors LLC raised its position in Parker-Hannifin Corporation by 4.1% in the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 24 shares during the period. Israel Discount Bank of New York raised its position in 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 worth $100,000 after purchasing an additional 150 shares during the period. Harbour Capital Advisors LLC purchased a new stake in Parker-Hannifin Corporation in the 1st quarter worth about $112,000. Finally, BT Investment Management Ltd purchased a new stake in Parker-Hannifin Corporation in the 2nd quarter worth about $124,000. 79.72% of the stock is owned by institutional investors.
Parker-Hannifin Corporation 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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