Parker-Hannifin (NYSE:PH) had its price objective increased by research analysts at Citigroup from $195.00 to $220.00 in a research note issued to investors on Tuesday. The firm presently has a “neutral” rating on the industrial products company’s stock. Citigroup’s target price would suggest a potential upside of 7.59% from the company’s current price.
A number of other analysts also recently commented on PH. Cowen reissued a “hold” rating and set a $155.00 price objective on shares of Parker-Hannifin in a report on Sunday, October 29th. Stifel Nicolaus reissued a “buy” rating and set a $245.00 price objective (up previously from $218.00) on shares of Parker-Hannifin in a report on Tuesday, January 16th. Zacks Investment Research raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $236.00 price objective on the stock in a report on Thursday, January 18th. Buckingham Research reissued a “neutral” rating and set a $210.00 price objective on shares of Parker-Hannifin in a report on Friday, January 19th. They noted that the move was a valuation call. Finally, Wells Fargo & Co upped their price target on shares of Parker-Hannifin from $181.50 to $196.00 and gave the company a “market perform” rating in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. Parker-Hannifin currently has a consensus rating of “Buy” and an average target price of $199.53.
Parker-Hannifin (NYSE PH) traded down $1.99 during mid-day trading on Tuesday, reaching $204.48. 609,844 shares of the company were exchanged, compared to its average volume of 868,342. The stock has a market capitalization of $27,932.18, a P/E ratio of 26.31, a P/E/G ratio of 1.85 and a beta of 1.40. Parker-Hannifin has a 52-week low of $144.82 and a 52-week high of $212.80. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87.
In other news, VP Robert W. Malone sold 540 shares of the business’s stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert W. Bond sold 5,517 shares of the business’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 transaction of $1,002,549.24. Following the completion of the transaction, the vice president now directly owns 28,265 shares of the company’s stock, valued at approximately $5,136,315.80. The disclosure for this sale can be found here. In the last three months, insiders sold 22,495 shares of company stock valued at $4,127,941. Company insiders own 1.12% of the company’s stock.
Large investors have recently bought and sold shares of the company. Emerald Advisers Inc. PA acquired a new position in Parker-Hannifin during the third quarter worth approximately $1,527,000. Cubist Systematic Strategies LLC increased its position in Parker-Hannifin by 154.0% during the third quarter. Cubist Systematic Strategies LLC now owns 6,820 shares of the industrial products company’s stock worth $1,194,000 after purchasing an additional 4,135 shares during the last quarter. IFM Investors Pty Ltd acquired a new position in Parker-Hannifin during the third quarter worth approximately $713,000. Private Advisor Group LLC increased its position in Parker-Hannifin by 58.2% during the third quarter. Private Advisor Group LLC now owns 5,554 shares of the industrial products company’s stock worth $984,000 after purchasing an additional 2,043 shares during the last quarter. Finally, Koch Industries Inc. acquired a new position in Parker-Hannifin during the second quarter worth approximately $521,000. 78.27% of the stock is owned by institutional investors and hedge funds.
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.
