Parker-Hannifin (NYSE:PH) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other research analysts also recently commented on PH. Jefferies Group reaffirmed a “hold” rating and issued a $165.00 price target (up previously from $163.00) on shares of Parker-Hannifin in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. BidaskClub downgraded shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Citigroup raised their price target on shares of Parker-Hannifin from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Finally, Cowen reaffirmed a “hold” rating and issued a $155.00 price target on shares of Parker-Hannifin in a research note on Sunday, October 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $188.95.
Parker-Hannifin (NYSE PH) traded down $0.44 during mid-day trading on Friday, reaching $187.05. 718,918 shares of the company traded hands, compared to its average volume of 669,698. The stock has a market cap of $24,860.00, a P/E ratio of 21.53, a PEG ratio of 1.68 and a beta of 1.40. Parker-Hannifin has a 52 week low of $139.49 and a 52 week high of $189.83. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87.
In other news, VP Robert W. Malone sold 540 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.37, for a total value of $100,639.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Lee C. Banks sold 5,286 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.38, for a total transaction of $985,204.68. Following the completion of the sale, the chief operating officer now owns 112,808 shares in the company, valued at $21,025,155.04. The disclosure for this sale can be found here. Insiders have sold a total of 24,728 shares of company stock worth $4,436,207 in the last three months. Insiders own 1.12% of the company’s stock.
Several large investors have recently added to or reduced their stakes in PH. Israel Discount Bank of New York boosted its holdings in shares of Parker-Hannifin 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 buying an additional 150 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Parker-Hannifin by 4.1% in the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after buying an additional 24 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in shares of Parker-Hannifin by 20.8% in 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. BT Investment Management Ltd bought a new stake in shares of Parker-Hannifin in the 2nd quarter valued at about $124,000. Finally, Sun Life Financial INC boosted its holdings in shares of Parker-Hannifin by 8,108.3% in the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock valued at $157,000 after buying an additional 973 shares in the last quarter. Institutional investors and hedge funds own 78.26% of the company’s stock.
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Parker-Hannifin 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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