Zacks Investment Research Downgrades Parker-Hannifin Corporation (PH) to Hold

Parker-Hannifin Corporation (NYSE:PH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Over the past year, Parker-Hannifin’s shares have outperformed the industry’s average gain. The company has a robust earnings surprise history, with consecutive earnings beats in the four trailing quarters. Parker-Hannifin expects to gain traction from improving demand, incremental savings from its realignment actions and its revamped Win Strategy. The company hopes to deliver a growth rate of 8% in earnings, over the next five years. Further, it has made two strategic acquisitions — CLARCOR and Helac Corp., which will boost its filtration and Hydraulics businesses respectively. However, prolonged sluggishness in the natural resources market, particularly oil and gas and agriculture, as well as softness in business jet markets are proving to be major concerns. In addition, strengthening of the U.S. dollar and escalating restructuring charges are expected to hurt the company’s financials.”

Several other research firms have also weighed in on PH. Buckingham Research began coverage on shares of Parker-Hannifin Corporation in a research report on Tuesday. They set a “buy” rating and a $205.00 price target for the company. Robert W. Baird restated a “hold” rating and set a $183.00 price target on shares of Parker-Hannifin Corporation in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $198.00 price target on shares of Parker-Hannifin Corporation in a research report on Friday. Citigroup Inc. increased their price target on shares of Parker-Hannifin Corporation from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday. Finally, KeyCorp restated a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin Corporation in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $180.89.

Shares of Parker-Hannifin Corporation (NYSE PH) opened at 181.84 on Tuesday. The stock’s 50 day moving average is $170.98 and its 200-day moving average is $162.51. The firm has a market cap of $24.21 billion, a PE ratio of 25.08 and a beta of 1.42. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $181.95.

Parker-Hannifin Corporation (NYSE:PH) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the prior year, the business posted $1.90 EPS. The business’s revenue was up 18.2% compared to the same quarter last year. Analysts expect that Parker-Hannifin Corporation will post $9.13 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This news story was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/17/zacks-investment-research-downgrades-parker-hannifin-corporation-ph-to-hold.html.

In other Parker-Hannifin Corporation news, Director Joseph Scaminace sold 500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Martin C. Maxwell sold 2,640 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total transaction of $437,368.80. Following the sale, the vice president now directly owns 31,718 shares in the company, valued at $5,254,721.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,389 shares of company stock worth $878,913. Insiders own 1.12% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. IHT Wealth Management LLC lifted its holdings in shares of Parker-Hannifin Corporation by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after buying an additional 20 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after buying an additional 24 shares in the last quarter. Israel Discount Bank of New York lifted its holdings in shares of Parker-Hannifin Corporation by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after buying an additional 150 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of Parker-Hannifin Corporation in the first quarter worth about $112,000. Finally, BT Investment Management Ltd purchased a new stake in shares of Parker-Hannifin Corporation in the second quarter worth about $124,000. 79.67% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Corporation Company Profile

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a ran

According to Zacks, “Over the past year, Parker-Hannifin’s shares have outperformed the industry’s average gain. The company has a robust earnings surprise history, with consecutive earnings beats in the four trailing quarters. Parker-Hannifin expects to gain traction from improving demand, incremental savings from its realignment actions and its revamped Win Strategy. The company hopes to deliver a growth rate of 8% in earnings, over the next five years. Further, it has made two strategic acquisitions — CLARCOR and Helac Corp., which will boost its filtration and Hydraulics businesses respectively. However, prolonged sluggishness in the natural resources market, particularly oil and gas and agriculture, as well as softness in business jet markets are proving to be major concerns. In addition, strengthening of the U.S. dollar and escalating restructuring charges are expected to hurt the company’s financials.”

Several other research firms have also weighed in on PH. Buckingham Research began coverage on shares of Parker-Hannifin Corporation in a research report on Tuesday. They set a “buy” rating and a $205.00 price target for the company. Robert W. Baird restated a “hold” rating and set a $183.00 price target on shares of Parker-Hannifin Corporation in a research report on Friday. Stifel Nicolaus restated a “buy” rating and set a $198.00 price target on shares of Parker-Hannifin Corporation in a research report on Friday. Citigroup Inc. increased their price target on shares of Parker-Hannifin Corporation from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday. Finally, KeyCorp restated a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin Corporation in a research report on Thursday, October 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $180.89.

Shares of Parker-Hannifin Corporation (NYSE PH) opened at 181.84 on Tuesday. The stock’s 50 day moving average is $170.98 and its 200-day moving average is $162.51. The firm has a market cap of $24.21 billion, a PE ratio of 25.08 and a beta of 1.42. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $181.95.

Parker-Hannifin Corporation (NYSE:PH) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the prior year, the business posted $1.90 EPS. The business’s revenue was up 18.2% compared to the same quarter last year. Analysts expect that Parker-Hannifin Corporation will post $9.13 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This news story was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this news story on another publication, it was stolen and republished in violation of United States and international copyright laws. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/17/zacks-investment-research-downgrades-parker-hannifin-corporation-ph-to-hold.html.

In other Parker-Hannifin Corporation news, Director Joseph Scaminace sold 500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Martin C. Maxwell sold 2,640 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total transaction of $437,368.80. Following the sale, the vice president now directly owns 31,718 shares in the company, valued at $5,254,721.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,389 shares of company stock worth $878,913. Insiders own 1.12% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. IHT Wealth Management LLC lifted its holdings in shares of Parker-Hannifin Corporation by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after buying an additional 20 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after buying an additional 24 shares in the last quarter. Israel Discount Bank of New York lifted its holdings in shares of Parker-Hannifin Corporation by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after buying an additional 150 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of Parker-Hannifin Corporation in the first quarter worth about $112,000. Finally, BT Investment Management Ltd purchased a new stake in shares of Parker-Hannifin Corporation in the second quarter worth about $124,000. 79.67% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Parker-Hannifin Corporation (NYSE:PH)

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