Stifel Nicolaus Reaffirms Buy Rating for Parker-Hannifin Corporation (PH)
Parker-Hannifin Corporation (NYSE:PH)‘s stock had its “buy” rating reiterated by investment analysts at Stifel Nicolaus in a research note issued on Friday. They currently have a $210.00 price objective on the industrial products company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 13.28% from the stock’s previous close.
PH has been the subject of a number of other research reports. 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. Morgan Stanley cut Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price objective for the company. in a research note on Monday, October 2nd. KeyCorp reissued an “overweight” rating and issued a $185.00 price objective on shares of Parker-Hannifin Corporation in a research note on Saturday, September 16th. Zacks Investment Research cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Buckingham Research lifted their target price on Parker-Hannifin Corporation from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. Parker-Hannifin Corporation currently has a consensus rating of “Buy” and a consensus target price of $187.58.
Parker-Hannifin Corporation (PH) traded up $3.39 during midday trading on Friday, reaching $185.38. The company had a trading volume of 825,843 shares, compared to its average volume of 756,922. Parker-Hannifin Corporation has a fifty-two week low of $119.13 and a fifty-two week high of $189.83. The firm has a market capitalization of $24.69 billion, a PE ratio of 21.48, a P/E/G ratio of 1.74 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87.
Parker-Hannifin Corporation (NYSE:PH) last released its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.02 by $0.22. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. The business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the firm posted $1.61 earnings per share. The firm’s revenue was up 22.7% on a year-over-year basis. sell-side analysts predict that Parker-Hannifin Corporation will post 9.22 earnings per share for the current year.
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In related news, VP Robert W. Malone sold 540 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $186.37, for a total transaction of $100,639.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Scaminace sold 500 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was 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 90 days, insiders have sold 5,929 shares of company stock valued at $979,553. 1.12% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of PH. Jennison Associates LLC boosted its holdings in shares of Parker-Hannifin Corporation by 28.5% in the 2nd quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after purchasing an additional 1,336,541 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Parker-Hannifin Corporation by 1,175.0% in the 2nd quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock worth $215,499,000 after purchasing an additional 1,242,624 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of Parker-Hannifin Corporation in the 2nd quarter worth about $521,000. PNC Financial Services Group Inc. boosted its holdings in shares of Parker-Hannifin Corporation by 277.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 595,662 shares of the industrial products company’s stock worth $95,200,000 after purchasing an additional 438,035 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Parker-Hannifin Corporation by 2,611.4% in the 2nd quarter. Janus Henderson Group PLC now owns 453,585 shares of the industrial products company’s stock worth $72,493,000 after purchasing an additional 436,856 shares in the last quarter. Hedge funds and other institutional investors own 79.50% of the company’s stock.
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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