Parker-Hannifin (PH) Upgraded at ValuEngine

Parker-Hannifin (NYSE:PH) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Tuesday.

PH has been the subject of a number of other research reports. MED downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $169.00 price objective for the company. in a research report on Thursday, July 12th. Deutsche Bank set a $169.00 price objective on shares of Parker-Hannifin and gave the company a “hold” rating in a research report on Thursday, July 12th. Goldman Sachs Group downgraded shares of Parker-Hannifin from a “buy” rating to a “neutral” rating and set a $164.00 price objective for the company. in a research report on Monday, July 16th. Jefferies Financial Group reissued a “$162.10” rating and set a $170.00 price objective on shares of Parker-Hannifin in a research report on Wednesday, July 18th. Finally, BMO Capital Markets reissued a “buy” rating and set a $190.00 price objective on shares of Parker-Hannifin in a research report on Thursday, July 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Parker-Hannifin has an average rating of “Hold” and a consensus price target of $186.72.

PH traded down $0.76 during mid-day trading on Tuesday, reaching $170.27. 12,358 shares of the company traded hands, compared to its average volume of 1,650,776. The firm has a market cap of $22.14 billion, a PE ratio of 16.39, a P/E/G ratio of 1.28 and a beta of 1.52. The company has a current ratio of 1.60, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. Parker-Hannifin has a 52-week low of $143.00 and a 52-week high of $212.80.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, November 1st. The industrial products company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.31. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.54 billion. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.24 EPS. As a group, research analysts forecast that Parker-Hannifin will post 11.57 EPS for the current fiscal year.

In other Parker-Hannifin news, VP William R. Bowman sold 2,400 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total transaction of $420,864.00. Following the completion of the transaction, the vice president now owns 1,325 shares of the company’s stock, valued at approximately $232,352. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph R. Leonti sold 1,605 shares of the stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $176.56, for a total transaction of $283,378.80. Following the transaction, the vice president now directly owns 15,731 shares of the company’s stock, valued at approximately $2,777,465.36. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PH. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of Parker-Hannifin by 5,815.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 756 shares during the last quarter. First Hawaiian Bank bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $125,000. Manchester Capital Management LLC boosted its holdings in shares of Parker-Hannifin by 55.9% during the 2nd quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 350 shares during the last quarter. Zions Bancorporation bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $161,000. Finally, Signaturefd LLC boosted its holdings in shares of Parker-Hannifin by 48.3% during the 2nd quarter. Signaturefd LLC now owns 1,108 shares of the industrial products company’s stock valued at $173,000 after purchasing an additional 361 shares during the last quarter. 79.34% of the stock is owned by institutional investors and hedge funds.

About Parker-Hannifin

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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