Parker-Hannifin Corp (NYSE:PH) – KeyCorp raised their FY2018 EPS estimates for shares of Parker-Hannifin in a note issued to investors on Thursday. KeyCorp analyst J. Hammond now forecasts that the industrial products company will post earnings per share of $10.10 for the year, up from their previous forecast of $9.60. KeyCorp has a “Buy” rating and a $205.00 price target on the stock.
A number of other brokerages also recently weighed in on PH. Cowen reissued a “hold” rating and issued a $140.00 price target on shares of Parker-Hannifin in a report on Friday, October 6th. Zacks Investment Research raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a report on Tuesday, November 7th. Robert W. Baird boosted their price target on shares of Parker-Hannifin from $183.00 to $194.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. BMO Capital Markets boosted their price target on shares of Parker-Hannifin from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Finally, Wells Fargo & Co boosted their price target on shares of Parker-Hannifin from $205.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $198.21.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.22. The firm 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 business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the company. IHT Wealth Management LLC increased its position in shares of Parker-Hannifin by 20.8% during the second 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 during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of Parker-Hannifin during the third quarter valued at about $168,000. Sun Life Financial INC increased its position in shares of Parker-Hannifin by 8,108.3% during the second 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 during the period. Americafirst Capital Management LLC bought a new stake in shares of Parker-Hannifin during the second quarter valued at about $167,000. Finally, Parametrica Management Ltd bought a new stake in shares of Parker-Hannifin during the third quarter valued at about $202,000. Hedge funds and other institutional investors own 78.21% of the company’s stock.
In other news, VP Thomas C. Gentile sold 326 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $181.89, for a total transaction of $59,296.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew D. Ross sold 2,056 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $192.14, for a total value of $395,039.84. Following the sale, the vice president now owns 5,207 shares in the company, valued at $1,000,472.98. The disclosure for this sale can be found here. Insiders sold a total of 22,495 shares of company stock worth $4,127,941 over the last 90 days. 1.12% of the stock is currently owned by company insiders.
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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