Parker-Hannifin Corporation (PH) Receives Buy Rating from KeyCorp
Parker-Hannifin Corporation (NYSE:PH)‘s stock had its “buy” rating reiterated by research analysts at KeyCorp in a research report issued to clients and investors on Friday. They currently have a $205.00 price target on the industrial products company’s stock. KeyCorp’s target price would suggest a potential upside of 10.58% from the company’s previous close. KeyCorp also issued estimates for Parker-Hannifin Corporation’s Q2 2018 earnings at $2.05 EPS, Q3 2018 earnings at $2.48 EPS, Q4 2018 earnings at $2.83 EPS and FY2019 earnings at $10.70 EPS.
PH has been the subject of a number of other reports. Wolfe Research assumed coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 target price for the company. Morgan Stanley cut shares of Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 target price for the company. in a report on Monday, October 2nd. Zacks Investment Research cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Buckingham Research upped their target price on shares of Parker-Hannifin Corporation from $205.00 to $210.00 and gave the company a “buy” rating in a report on Friday. Finally, Credit Suisse Group upped their target price on shares of Parker-Hannifin Corporation from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $187.58.
Shares of Parker-Hannifin Corporation (PH) traded down $1.74 on Friday, reaching $185.38. 840,811 shares of the company were exchanged, compared to its average volume of 756,922. Parker-Hannifin Corporation has a 52-week low of $119.13 and a 52-week high of $189.83. The stock has a market capitalization of $24.69 billion, a PE ratio of 21.48, a PEG ratio of 1.74 and a beta of 1.40. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.22. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the previous year, the company earned $1.61 earnings per share. Parker-Hannifin Corporation’s quarterly revenue was up 22.7% compared to the same quarter last year. analysts anticipate that Parker-Hannifin Corporation will post 9.22 earnings per share for the current fiscal year.
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In other news, Director Candy M. Obourn sold 1,241 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $161.46, for a total value of $200,371.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Martin C. Maxwell sold 2,640 shares of the stock in a transaction on Tuesday, September 12th. The stock was 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 directly owns 31,718 shares of the company’s stock, valued at approximately $5,254,721.06. The disclosure for this sale can be found here. Insiders sold 5,929 shares of company stock valued at $979,553 in the last three months. Company insiders own 1.12% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Israel Discount Bank of New York increased its position in shares of Parker-Hannifin Corporation by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 150 shares in the last quarter. Parallel Advisors LLC grew its holdings 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 valued at $102,000 after purchasing an additional 24 shares in the last quarter. IHT Wealth Management LLC grew its holdings 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 valued at $119,000 after purchasing an additional 20 shares in the last quarter. BT Investment Management Ltd acquired a new stake in Parker-Hannifin Corporation during the 2nd quarter valued at $124,000. Finally, Sun Life Financial INC grew its holdings in Parker-Hannifin Corporation by 8,108.3% during the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 973 shares in the last quarter. 79.50% 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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