Investment analysts at Buckingham Research assumed coverage on shares of Parker-Hannifin Corporation (NYSE:PH) in a research report issued on Tuesday. The firm set a “buy” rating on the industrial products company’s stock.
PH has been the topic of a number of other reports. Wolfe Research initiated coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 price target on the stock. Morgan Stanley cut shares of Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price target on the stock. in a report on Monday, October 2nd. KeyCorp restated an “overweight” rating and issued a $185.00 price target on shares of Parker-Hannifin Corporation in a report on Saturday, September 16th. Zacks Investment Research upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $198.00 price target on the stock in a report on Tuesday, October 10th. Finally, BidaskClub upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $179.56.
Shares of Parker-Hannifin Corporation (PH) opened at 181.41 on Tuesday. The firm has a 50-day moving average of $170.98 and a 200-day moving average of $162.51. The company has a market cap of $24.15 billion, a price-to-earnings ratio of 25.02 and a beta of 1.42. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $181.94.
Parker-Hannifin Corporation (NYSE:PH) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the prior year, the firm posted $1.90 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts forecast that Parker-Hannifin Corporation will post $9.13 EPS for the current fiscal year.
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In other Parker-Hannifin Corporation news, EVP Mark J. Hart sold 600 shares of the stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $160.72, for a total transaction of $96,432.00. Following the transaction, the executive vice president now directly owns 5,851 shares in the company, valued at approximately $940,372.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Scaminace sold 500 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,389 shares of company stock worth $878,913. 1.12% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of PH. Neuberger Berman Group LLC boosted its holdings in shares of Parker-Hannifin Corporation by 1.0% in the 1st quarter. Neuberger Berman Group LLC now owns 8,588 shares of the industrial products company’s stock valued at $1,377,000 after buying an additional 82 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of Parker-Hannifin Corporation by 3.3% in the 1st quarter. Teachers Advisors LLC now owns 845,658 shares of the industrial products company’s stock valued at $135,576,000 after buying an additional 27,245 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Parker-Hannifin Corporation in the 1st quarter valued at about $15,181,000. Teacher Retirement System of Texas bought a new stake in shares of Parker-Hannifin Corporation in the 1st quarter valued at about $223,000. Finally, L & S Advisors Inc bought a new stake in shares of Parker-Hannifin Corporation in the 1st quarter valued at about $6,406,000. Institutional investors own 79.67% of the company’s stock.
Parker-Hannifin Corporation 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.
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