Parker-Hannifin (NYSE:PH)‘s stock had its “market perform” rating reiterated by Wells Fargo & Co in a research note issued on Thursday.
Other analysts have also recently issued research reports about the company. Zacks Investment Research cut Parker-Hannifin from a “hold” rating to a “sell” rating in a report on Wednesday. Wolfe Research started coverage on Parker-Hannifin in a report on Wednesday. They set a “market perform” rating on the stock. Buckingham Research lowered their price target on Parker-Hannifin from $210.00 to $195.00 and set a “hold” rating on the stock in a report on Friday, April 27th. ValuEngine cut Parker-Hannifin from a “hold” rating to a “sell” rating in a report on Friday, June 22nd. Finally, Citigroup lowered their price target on Parker-Hannifin from $205.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, April 30th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $200.40.
Shares of PH opened at $153.96 on Thursday. The stock has a market cap of $20.71 billion, a P/E ratio of 18.98, a P/E/G ratio of 1.57 and a beta of 1.42. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.09 and a current ratio of 1.59. Parker-Hannifin has a 52-week low of $153.50 and a 52-week high of $212.80.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, April 26th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Parker-Hannifin had a return on equity of 23.63% and a net margin of 7.16%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.11 EPS. research analysts expect that Parker-Hannifin will post 10.08 EPS for the current year.
In related news, Director Candy M. Obourn sold 1,825 shares of the firm’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $164.93, for a total transaction of $300,997.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kurt A. Keller sold 7,005 shares of the firm’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $182.04, for a total value of $1,275,190.20. Following the transaction, the vice president now directly owns 31,834 shares in the company, valued at $5,795,061.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,578 shares of company stock worth $2,564,440. 1.12% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in Parker-Hannifin during the 1st quarter worth approximately $3,773,000. Chesapeake Wealth Management bought a new position in Parker-Hannifin during the 1st quarter worth approximately $493,000. Suntrust Banks Inc. grew its position in Parker-Hannifin by 10.6% during the 1st quarter. Suntrust Banks Inc. now owns 24,383 shares of the industrial products company’s stock worth $4,169,000 after acquiring an additional 2,346 shares during the last quarter. Amalgamated Bank grew its position in Parker-Hannifin by 9.3% during the 1st quarter. Amalgamated Bank now owns 18,986 shares of the industrial products company’s stock worth $3,247,000 after acquiring an additional 1,617 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its position in Parker-Hannifin by 20.0% during the 1st quarter. Summit Trail Advisors LLC now owns 2,066 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 345 shares during the last quarter. 79.93% of the stock is currently owned by institutional investors.
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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