Parker-Hannifin (NYSE:PH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, January 4th.
According to Zacks, “Parker-Hannifin’s shares have outperformed the industry’s average, over the past one year. Parker-Hannifin has a robust earnings surprise history, with consecutive earnings beats in the four trailing quarters. Going forward, the company expects to gain traction from improving demand, incremental savings from its realignment actions and its revamped Win Strategy. The company anticipates that its revamped Win strategy will help deliver growth rate of 8% in earnings, over the next five years. However, prolonged sluggishness in the key natural resources markets is proving to be one of the major concerns for the company. Moreover, strengthening of the U.S. dollar and escalating restructuring charges are expected to hurt the company’s financials. This apart, changes in business relationships and purchase pattern of major customers, suppliers or distributors pose a significant challenge.”
A number of other brokerages have also recently commented on PH. BMO Capital Markets raised their price target on shares of Parker-Hannifin to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, January 4th. ValuEngine lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Buckingham Research raised their price objective on shares of Parker-Hannifin from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Credit Suisse Group raised their price objective on shares of Parker-Hannifin from $205.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Finally, Robert W. Baird raised their price objective on shares of Parker-Hannifin from $183.00 to $194.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. Parker-Hannifin currently has a consensus rating of “Buy” and an average target price of $192.84.
Parker-Hannifin (NYSE PH) traded up $1.85 during midday trading on Thursday, hitting $210.20. 599,973 shares of the company traded hands, compared to its average volume of 804,178. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. Parker-Hannifin has a twelve month low of $141.06 and a twelve month high of $210.31. The company has a market capitalization of $28,000.00, a PE ratio of 26.98, a PEG ratio of 1.83 and a beta of 1.40.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The business had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter last year, the company earned $1.61 earnings per share. The firm’s revenue was up 22.7% on a year-over-year basis. sell-side analysts predict that Parker-Hannifin will post 9.57 earnings per share for the current year.
In other news, COO Lee C. Banks sold 5,286 shares of Parker-Hannifin stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total transaction of $985,204.68. Following the transaction, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at $21,025,155.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Andrew D. Ross sold 2,056 shares of Parker-Hannifin stock in a transaction on Friday, December 8th. The stock was sold at an average price of $192.14, for a total transaction of $395,039.84. Following the transaction, the vice president now directly owns 5,207 shares in the company, valued at $1,000,472.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,495 shares of company stock worth $4,127,941. Insiders own 1.12% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PH. IHT Wealth Management LLC increased its stake in Parker-Hannifin by 20.8% in the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after buying an additional 20 shares during the last quarter. Israel Discount Bank of New York increased its stake in Parker-Hannifin by 31.6% in the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after buying an additional 150 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Parker-Hannifin in the 2nd quarter valued at $124,000. Steward Partners Investment Advisory LLC acquired a new stake in Parker-Hannifin in the 3rd quarter valued at $168,000. Finally, Sun Life Financial INC increased its stake in Parker-Hannifin by 8,108.3% in the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock valued at $157,000 after buying an additional 973 shares during the last quarter. 78.04% of the stock is currently owned by institutional investors and hedge funds.
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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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