Parker-Hannifin (NYSE:PH) had its target price dropped by analysts at Morgan Stanley from $179.00 to $175.00 in a research note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price objective indicates a potential upside of 5.55% from the company’s current price.
Several other equities analysts have also recently weighed in on the company. Citigroup raised their price objective on Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Stifel Nicolaus raised their target price on Parker-Hannifin from $171.00 to $182.00 and gave the company a “hold” rating in a research report on Tuesday, April 16th. Finally, Barclays lifted their price objective on Parker-Hannifin from $178.00 to $186.00 and gave the stock an “overweight” rating in a report on Wednesday, April 3rd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $182.12.
Parker-Hannifin stock opened at $165.80 on Friday. Parker-Hannifin has a 52-week low of $140.82 and a 52-week high of $193.19. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. The company has a market cap of $21.15 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 1.55 and a beta of 1.53.
Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.01 by $0.16. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. The company had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the business earned $2.80 EPS. Parker-Hannifin’s quarterly revenue was down 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Parker-Hannifin will post 11.64 EPS for the current year.
In other news, VP Robert W. Malone sold 336 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $156.76, for a total transaction of $52,671.36. Following the transaction, the vice president now directly owns 24,260 shares of the company’s stock, valued at $3,802,997.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.12% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Dubuque Bank & Trust Co. lifted its holdings in shares of Parker-Hannifin by 97.5% during the first quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 78 shares in the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Parker-Hannifin by 58.3% during the fourth quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 70 shares in the last quarter. Athena Capital Advisors LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at $32,000. Trustcore Financial Services LLC bought a new position in shares of Parker-Hannifin during the first quarter valued at $34,000. Finally, Gemmer Asset Management LLC lifted its holdings in shares of Parker-Hannifin by 162.3% during the first quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 125 shares in the last quarter. 79.68% of the stock is currently owned by institutional investors and hedge funds.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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