Parker-Hannifin (PH) Receives “Hold” Rating from Cowen

Cowen reiterated their hold rating on shares of Parker-Hannifin (NYSE:PH) in a research note issued to investors on Wednesday. They currently have a $180.00 price objective on the industrial products company’s stock.

A number of other brokerages have also commented on PH. Zacks Investment Research raised Parker-Hannifin from a hold rating to a buy rating and set a $208.00 target price for the company in a research report on Tuesday, November 7th. Robert W. Baird boosted their price objective on Parker-Hannifin from $183.00 to $194.00 and gave the stock a neutral rating in a report on Friday, November 3rd. BMO Capital Markets boosted their price objective on Parker-Hannifin from $200.00 to $205.00 and gave the stock an outperform rating in a report on Monday, November 6th. KeyCorp reissued a buy rating and set a $205.00 price objective on shares of Parker-Hannifin in a report on Friday, November 3rd. Finally, Citigroup boosted their price objective on Parker-Hannifin from $185.00 to $195.00 and gave the stock a neutral rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $192.84.

Shares of Parker-Hannifin (PH) traded up $1.69 during trading on Wednesday, reaching $210.04. The company had a trading volume of 862,600 shares, compared to its average volume of 712,467. Parker-Hannifin has a twelve month low of $141.06 and a twelve month high of $210.35. The company has a market cap of $27,982.79, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 1.88 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.22. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period in the previous year, the company posted $1.61 EPS. The firm’s revenue was up 22.7% compared to the same quarter last year. sell-side analysts predict that Parker-Hannifin will post 9.61 earnings per share for the current fiscal year.

In other news, VP Joseph R. Leonti sold 5,279 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $179.07, for a total value of $945,310.53. Following the completion of the transaction, the vice president now directly owns 8,032 shares of the company’s stock, valued at $1,438,290.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Andrew D. Ross sold 2,056 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $192.14, for a total value of $395,039.84. Following the completion of the transaction, the vice president now directly owns 5,207 shares of the company’s stock, 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 valued at $4,127,941. 1.12% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Parker-Hannifin by 1.0% in the second quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock valued at $1,397,867,000 after purchasing an additional 90,732 shares during the last quarter. BlackRock Inc. lifted its stake in Parker-Hannifin by 3.6% in the second quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock valued at $1,352,775,000 after purchasing an additional 298,047 shares during the last quarter. Longview Partners Guernsey LTD lifted its stake in Parker-Hannifin by 5.4% in the third quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock valued at $947,463,000 after purchasing an additional 278,500 shares during the last quarter. FMR LLC lifted its stake in Parker-Hannifin by 11.7% in the second quarter. FMR LLC now owns 1,959,733 shares of the industrial products company’s stock valued at $313,205,000 after purchasing an additional 204,826 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in Parker-Hannifin by 1,175.0% in the second quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock valued at $215,499,000 after purchasing an additional 1,242,624 shares during the last quarter. Institutional investors and hedge funds own 78.04% of the company’s stock.

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About Parker-Hannifin

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 (NYSE:PH)

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