Parker-Hannifin (PH) Rating Reiterated by Buckingham Research

Parker-Hannifin (NYSE:PH)‘s stock had its “neutral” rating reaffirmed by research analysts at Buckingham Research in a report released on Friday, Marketbeat Ratings reports. They currently have a $210.00 price objective on the industrial products company’s stock. Buckingham Research’s price target would indicate a potential downside of 0.45% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other equities research analysts also recently commented on PH. Cowen reiterated a “hold” rating and issued a $180.00 price objective on shares of Parker-Hannifin in a report on Wednesday, January 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $245.00 price objective (up from $218.00) on shares of Parker-Hannifin in a report on Tuesday. Wells Fargo & Co lifted their price objective on Parker-Hannifin from $205.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday. Zacks Investment Research upgraded Parker-Hannifin from a “hold” rating to a “buy” rating and set a $236.00 price objective for the company in a report on Thursday. Finally, Citigroup lifted their price objective on Parker-Hannifin from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. Parker-Hannifin has an average rating of “Buy” and a consensus price target of $198.21.

Parker-Hannifin (NYSE:PH) traded up $0.45 during midday trading on Friday, reaching $210.94. The company had a trading volume of 902,469 shares, compared to its average volume of 832,627. Parker-Hannifin has a 52 week low of $141.06 and a 52 week high of $212.80. The company has a market cap of $28,100.00, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 1.86 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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 had a return on equity of 23.61% and a net margin of 8.37%. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the company earned $1.61 EPS. Parker-Hannifin’s revenue for the quarter was up 22.7% on a year-over-year basis. equities research analysts anticipate that Parker-Hannifin will post 9.71 EPS for the current year.

In other news, VP Robert W. Malone sold 540 shares of Parker-Hannifin 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 SEC, which can be accessed through this hyperlink. Also, VP Thomas C. Gentile sold 326 shares of Parker-Hannifin stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $181.89, for a total value of $59,296.14. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,495 shares of company stock valued at $4,127,941. Corporate insiders own 1.12% of the company’s stock.

Several hedge funds have recently bought and sold shares of PH. Voya Investment Management LLC lifted its position in shares of Parker-Hannifin by 1,175.0% during the 2nd quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock valued at $215,499,000 after buying an additional 1,242,624 shares in the last quarter. Koch Industries Inc. purchased a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $521,000. Janus Henderson Group PLC lifted its position in shares of Parker-Hannifin by 2,611.4% during the 2nd quarter. Janus Henderson Group PLC now owns 453,585 shares of the industrial products company’s stock valued at $72,493,000 after buying an additional 436,856 shares in the last quarter. Longview Partners Guernsey LTD lifted its position in shares of Parker-Hannifin by 5.4% during the 3rd quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock valued at $947,463,000 after buying an additional 278,500 shares in the last quarter. Finally, AXA lifted its position in shares of Parker-Hannifin by 216.9% during the 3rd quarter. AXA now owns 337,028 shares of the industrial products company’s stock valued at $58,987,000 after buying an additional 230,673 shares in the last quarter. 78.05% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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