Parker-Hannifin (PH) Rating Lowered to Hold at ValuEngine

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.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The firm’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.61 EPS. analysts predict that Parker-Hannifin will post 9.56 earnings per share for the current fiscal year.

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.

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Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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