Parker-Hannifin Corporation (PH) Downgraded by ValuEngine to “Hold”

Parker-Hannifin Corporation (NYSE:PH) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

Several other equities analysts have also recently weighed in on PH. BidaskClub upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC set a $163.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a “hold” rating in a research report on Wednesday, June 28th. Stifel Nicolaus reiterated a “buy” rating and set a $176.00 price objective on shares of Parker-Hannifin Corporation in a research report on Thursday, July 6th. Wolfe Research initiated coverage on shares of Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They set an “outperform” rating and a $182.00 target price for the company. Finally, Zacks Investment Research lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. Parker-Hannifin Corporation has an average rating of “Buy” and an average price target of $175.88.

Shares of Parker-Hannifin Corporation (NYSE:PH) opened at 177.33 on Tuesday. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of 24.46 and a beta of 1.42. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $178.39. The company has a 50-day moving average price of $168.10 and a 200-day moving average price of $161.88.

Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping the 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 firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the company posted $1.90 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities analysts expect that Parker-Hannifin Corporation will post $9.09 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of international copyright & trademark laws. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/10/parker-hannifin-corporation-ph-downgraded-by-valuengine-to-hold.html.

In other news, Director Candy M. Obourn sold 1,241 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $161.46, for a total transaction of $200,371.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph R. Leonti sold 408 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total transaction of $65,565.60. Following the transaction, the vice president now owns 7,318 shares in the company, valued at approximately $1,176,002.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,389 shares of company stock worth $878,913. Insiders own 1.12% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Centre Asset Management LLC increased its stake in Parker-Hannifin Corporation by 18.6% in the third quarter. Centre Asset Management LLC now owns 50,780 shares of the industrial products company’s stock valued at $8,888,000 after acquiring an additional 7,970 shares during the period. USA Financial Portformulas Corp increased its stake in Parker-Hannifin Corporation by 19.2% in the second quarter. USA Financial Portformulas Corp now owns 21,544 shares of the industrial products company’s stock valued at $3,443,000 after acquiring an additional 3,476 shares during the period. Sentry Investment Management LLC increased its stake in Parker-Hannifin Corporation by 1.9% in the second quarter. Sentry Investment Management LLC now owns 34,457 shares of the industrial products company’s stock valued at $5,507,000 after acquiring an additional 658 shares during the period. Toronto Dominion Bank increased its stake in Parker-Hannifin Corporation by 22.1% in the second quarter. Toronto Dominion Bank now owns 50,534 shares of the industrial products company’s stock valued at $8,077,000 after acquiring an additional 9,147 shares during the period. Finally, Advisory Services Network LLC increased its stake in Parker-Hannifin Corporation by 145.6% in the second quarter. Advisory Services Network LL

Several other equities analysts have also recently weighed in on PH. BidaskClub upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC set a $163.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a “hold” rating in a research report on Wednesday, June 28th. Stifel Nicolaus reiterated a “buy” rating and set a $176.00 price objective on shares of Parker-Hannifin Corporation in a research report on Thursday, July 6th. Wolfe Research initiated coverage on shares of Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They set an “outperform” rating and a $182.00 target price for the company. Finally, Zacks Investment Research lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. Parker-Hannifin Corporation has an average rating of “Buy” and an average price target of $175.88.

Shares of Parker-Hannifin Corporation (NYSE:PH) opened at 177.33 on Tuesday. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of 24.46 and a beta of 1.42. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $178.39. The company has a 50-day moving average price of $168.10 and a 200-day moving average price of $161.88.

Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping the 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 firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the company posted $1.90 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities analysts expect that Parker-Hannifin Corporation will post $9.09 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another publication, it was illegally stolen and reposted in violation of international copyright & trademark laws. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/10/parker-hannifin-corporation-ph-downgraded-by-valuengine-to-hold.html.

In other news, Director Candy M. Obourn sold 1,241 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $161.46, for a total transaction of $200,371.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph R. Leonti sold 408 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total transaction of $65,565.60. Following the transaction, the vice president now owns 7,318 shares in the company, valued at approximately $1,176,002.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,389 shares of company stock worth $878,913. Insiders own 1.12% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Centre Asset Management LLC increased its stake in Parker-Hannifin Corporation by 18.6% in the third quarter. Centre Asset Management LLC now owns 50,780 shares of the industrial products company’s stock valued at $8,888,000 after acquiring an additional 7,970 shares during the period. USA Financial Portformulas Corp increased its stake in Parker-Hannifin Corporation by 19.2% in the second quarter. USA Financial Portformulas Corp now owns 21,544 shares of the industrial products company’s stock valued at $3,443,000 after acquiring an additional 3,476 shares during the period. Sentry Investment Management LLC increased its stake in Parker-Hannifin Corporation by 1.9% in the second quarter. Sentry Investment Management LLC now owns 34,457 shares of the industrial products company’s stock valued at $5,507,000 after acquiring an additional 658 shares during the period. Toronto Dominion Bank increased its stake in Parker-Hannifin Corporation by 22.1% in the second quarter. Toronto Dominion Bank now owns 50,534 shares of the industrial products company’s stock valued at $8,077,000 after acquiring an additional 9,147 shares during the period. Finally, Advisory Services Network LLC increased its stake in Parker-Hannifin Corporation by 145.6% in the second quarter. Advisory Services Network LLC now owns 1,191 shares of the industrial products company’s stock valued at $190,000 after acquiring an additional 706 shares during the period. Institutional investors own 79.72% of the company’s stock.

About Parker-Hannifin Corporation

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 Corporation (NYSE:PH)

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