Parker-Hannifin (NYSE:PH)‘s stock had its “overweight” rating reaffirmed by stock analysts at KeyCorp in a research report issued on Friday, The Fly reports. They currently have a $200.00 target price on the industrial products company’s stock, down from their previous target price of $225.00. KeyCorp’s target price suggests a potential upside of 27.32% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Wolfe Research assumed coverage on Parker-Hannifin in a research report on Wednesday, June 27th. They issued a “market perform” rating on the stock. ValuEngine lowered Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Friday, June 22nd. Buckingham Research reduced their price target on Parker-Hannifin from $210.00 to $195.00 and set a “hold” rating on the stock in a research report on Friday, April 27th. Citigroup reduced their price target on Parker-Hannifin from $205.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, April 30th. Finally, Robert W. Baird raised Parker-Hannifin from a “neutral” rating to an “outperform” rating and set a $203.00 price target on the stock in a research report on Thursday, March 8th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. Parker-Hannifin presently has an average rating of “Hold” and a consensus target price of $200.07.
Parker-Hannifin opened at $157.08 on Friday, according to Marketbeat. Parker-Hannifin has a 12-month low of $152.47 and a 12-month high of $212.80. The company has a current ratio of 1.59, a quick ratio of 1.09 and a debt-to-equity ratio of 0.82. The stock has a market cap of $20.85 billion, a P/E ratio of 19.37, a PEG ratio of 1.38 and a beta of 1.41.
Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, April 26th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.18. Parker-Hannifin had a return on equity of 23.63% and a net margin of 7.16%. The firm had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.67 billion. During the same quarter in the prior year, the company earned $2.11 EPS. Parker-Hannifin’s revenue was up 20.2% on a year-over-year basis. equities analysts forecast that Parker-Hannifin will post 10.08 earnings per share for the current year.
In other news, VP Robert W. Malone sold 430 shares of the stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $165.12, for a total value of $71,001.60. Following the transaction, the vice president now owns 14,816 shares in the company, valued at approximately $2,446,417.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Catherine A. Suever sold 2,148 shares of the stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $175.13, for a total value of $376,179.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,578 shares of company stock worth $2,564,440. Company insiders own 1.12% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC purchased a new position in Parker-Hannifin during the 1st quarter worth approximately $128,000. Private Capital Group LLC grew its stake in Parker-Hannifin by 272.2% during the 1st quarter. Private Capital Group LLC now owns 882 shares of the industrial products company’s stock worth $151,000 after buying an additional 645 shares during the last quarter. Wagner Wealth Management LLC purchased a new position in Parker-Hannifin during the 4th quarter worth approximately $198,000. Chemical Bank purchased a new position in Parker-Hannifin during the 4th quarter worth approximately $206,000. Finally, NuWave Investment Management LLC grew its stake in Parker-Hannifin by 7,252.9% during the 1st quarter. NuWave Investment Management LLC now owns 1,250 shares of the industrial products company’s stock worth $211,000 after buying an additional 1,233 shares during the last quarter. Institutional investors and hedge funds own 79.93% of the company’s stock.
Parker-Hannifin Company Profile
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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