Parker-Hannifin’s (PH) Buy Rating Reiterated at Stifel Nicolaus
Parker-Hannifin (NYSE:PH)‘s stock had its “buy” rating reissued by research analysts at Stifel Nicolaus in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $245.00 target price on the industrial products company’s stock, up from their prior target price of $218.00. Stifel Nicolaus’ price objective suggests a potential upside of 16.64% from the stock’s previous close.
Other analysts have also issued reports about the company. KeyCorp reissued a “buy” rating and set a $200.00 price objective on shares of Parker-Hannifin in a report on Thursday, October 12th. Zacks Investment Research raised Parker-Hannifin from a “hold” rating to a “buy” rating and set a $198.00 price objective for the company in a report on Tuesday, October 10th. Buckingham Research initiated coverage on Parker-Hannifin in a report on Tuesday, October 17th. They set a “buy” rating and a $205.00 price objective for the company. BMO Capital Markets reissued a “buy” rating and set a $200.00 price objective on shares of Parker-Hannifin in a report on Friday, October 20th. Finally, Deutsche Bank boosted their price objective on Parker-Hannifin to $200.00 and gave the stock a “buy” rating in a report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $194.68.
Shares of Parker-Hannifin (PH) traded up $1.69 on Tuesday, reaching $210.04. The company’s stock had a trading volume of 862,600 shares, compared to its average volume of 850,333. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95. The company has a market cap of $28,250.00, a price-to-earnings ratio of 26.96, a P/E/G ratio of 1.88 and a beta of 1.40. Parker-Hannifin has a 1 year low of $141.06 and a 1 year high of $210.35.
In related news, VP Joseph R. Leonti sold 5,279 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $179.07, for a total value of $945,310.53. Following the transaction, the vice president now owns 8,032 shares in the company, valued at $1,438,290.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Robert W. Bond sold 5,517 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $181.72, for a total value of $1,002,549.24. Following the completion of the transaction, the vice president now owns 28,265 shares in the company, valued at approximately $5,136,315.80. The disclosure for this sale can be found here. Insiders sold a total of 22,495 shares of company stock worth $4,127,941 in the last 90 days. Company insiders own 1.12% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Emerald Advisers Inc. PA purchased a new position in Parker-Hannifin in the third quarter valued at approximately $1,527,000. Cubist Systematic Strategies LLC lifted its stake in Parker-Hannifin by 154.0% in the third quarter. Cubist Systematic Strategies LLC now owns 6,820 shares of the industrial products company’s stock valued at $1,194,000 after purchasing an additional 4,135 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in Parker-Hannifin in the third quarter valued at approximately $713,000. Koch Industries Inc. purchased a new position in Parker-Hannifin in the second quarter valued at approximately $521,000. Finally, Private Advisor Group LLC lifted its stake in Parker-Hannifin by 58.2% in the third quarter. Private Advisor Group LLC now owns 5,554 shares of the industrial products company’s stock valued at $984,000 after purchasing an additional 2,043 shares during the last quarter. Institutional investors and hedge funds own 78.05% of the company’s stock.
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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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