Parker-Hannifin Corporation (PH) Lowered to “Hold” at ValuEngine

ValuEngine cut shares of Parker-Hannifin Corporation (NYSE:PH) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

A number of other research firms also recently commented on PH. Wells Fargo & Company boosted their price target on Parker-Hannifin Corporation from $181.50 to $196.00 and gave the company a market perform rating in a research note on Friday, October 6th. Cowen and Company reaffirmed a hold rating and issued a $140.00 price target on shares of Parker-Hannifin Corporation in a research note on Friday, October 6th. Morgan Stanley downgraded Parker-Hannifin Corporation from an overweight rating to an equal weight rating and set a $188.00 price target for the company. in a research note on Monday, October 2nd. KeyCorp reaffirmed an overweight rating and issued a $185.00 price target on shares of Parker-Hannifin Corporation in a research note on Saturday, September 16th. Finally, Stifel Nicolaus set a $198.00 price target on Parker-Hannifin Corporation and gave the company a buy rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $177.18.

Shares of Parker-Hannifin Corporation (NYSE PH) opened at 177.50 on Tuesday. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $178.50. The company has a market cap of $23.63 billion, a price-to-earnings ratio of 24.48 and a beta of 1.42. The stock has a 50 day moving average of $168.74 and a 200 day moving average of $162.03.

Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, beating the Zacks’ consensus estimate of $2.31 by $0.14. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. Parker-Hannifin Corporation’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.90 earnings per share. On average, equities analysts expect that Parker-Hannifin Corporation will post $9.10 earnings per share for the current fiscal year.

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In other news, 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 sale, the vice president now directly owns 7,318 shares in the company, valued at $1,176,002.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Martin C. Maxwell sold 2,640 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total value of $437,368.80. Following the sale, the vice president now 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 90 days, insiders have sold 5,389 shares of company stock worth $878,913. Company insiders own 1.12% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Parker-Hannifin Corporation by 1.0% during the second quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after purchasing an additional 90,732 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Parker-Hannifin Corporation by 3.6% during the second quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock worth $1,352,775,000 after purchasing an additional 298,047 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Parker-Hannifin Corporation by 28.5% during the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after purchasing an additional 1,336,541 shares during the last quarter. Longview Partners Guernsey LTD grew its holdings in shares of Parker-Hannifin Corporation by 7.6% during the second quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock worth $820,669,000 after purchasing an additional 362,076 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Parker-Hannifin Corporation by 10.2% during the second quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock worth $336,317,000 after purchasing an additional 194,858 shares during the last quarter. Institutional investors own 79.72% 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.

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

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