Parker-Hannifin Corporation (PH) Downgraded by ValuEngine

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

Several other equities analysts have also recently weighed in on the stock. Cowen and Company reaffirmed a hold rating and set a $140.00 price target on shares of Parker-Hannifin Corporation in a research note on Friday, October 6th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin Corporation from $181.50 to $196.00 and gave the stock a market perform rating in a research note on Friday, October 6th. Morgan Stanley cut shares of 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 set a $185.00 price target on shares of Parker-Hannifin Corporation in a research note on Saturday, September 16th. Finally, Robert W. Baird set a $163.00 target price on shares of Parker-Hannifin Corporation and gave the company a hold rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $178.44.

Shares of Parker-Hannifin Corporation (NYSE PH) opened at 180.40 on Tuesday. The company has a market capitalization of $24.02 billion, a P/E ratio of 24.88 and a beta of 1.42. The firm has a 50-day moving average of $170.59 and a 200 day moving average of $162.45. Parker-Hannifin Corporation has a 52-week low of $118.77 and a 52-week high of $181.94.

Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings results 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. The company had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period last year, the business earned $1.90 EPS. On average, analysts anticipate that Parker-Hannifin Corporation will post $9.11 EPS for the current year.

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In other Parker-Hannifin Corporation news, VP Joseph R. Leonti sold 408 shares of Parker-Hannifin Corporation stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total transaction of $65,565.60. Following the completion of the transaction, the vice president now directly owns 7,318 shares of the company’s stock, valued at $1,176,002.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total transaction of $437,368.80. Following the transaction, the vice president now directly owns 31,718 shares of the company’s stock, 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 valued at $878,913. Company insiders own 1.12% of the company’s stock.

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

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.

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

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