Recent Research Analysts’ Ratings Changes for Parker-Hannifin (PH)

Several brokerages have updated their recommendations and price targets on shares of Parker-Hannifin (NYSE: PH) in the last few weeks:

  • 11/6/2018 – Parker-Hannifin was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 11/5/2018 – Parker-Hannifin had its price target lowered by analysts at Morgan Stanley from $187.00 to $179.00. They now have a “hold” rating on the stock.
  • 11/2/2018 – Parker-Hannifin was upgraded by analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating. They now have a $193.00 price target on the stock.
  • 11/2/2018 – Parker-Hannifin had its price target lowered by analysts at Citigroup Inc from $185.00 to $178.00. They now have a “neutral” rating on the stock.
  • 10/18/2018 – Parker-Hannifin was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Over the past month, Parker-Hannifin's shares have underperformed the industry. The company reported mixed results for fourth-quarter fiscal 2018. Rising cost of sales, as well as ongoing business-realignment expenses might dampen its profitability, going forward. However, the company is poised to drive its near-term revenue growth on the back of robust end-market demand. Also, its Win Strategy and realignment efforts are expected to boost the bottom-line performance in the quarters ahead. Over the past 30 days, earnings estimates on the stock have been revised upward for both fiscal 2019 and fiscal 2020.”
  • 10/17/2018 – Parker-Hannifin was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/16/2018 – Parker-Hannifin was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $187.00 price target on the stock. According to Zacks, “Over the past three months, Parker-Hannifin’s shares have outperformed the industry. The company is poised to drive its near-term revenue growth on the back of robust end-market demand. On the other hand, strong top line performance, ongoing Win Strategy, realignment and simplification efforts, as well as lower corporate tax rates are expected to drive Parker-Hannifin’s bottom line growth trajectory in the quarters ahead. The company currently anticipates generating adjusted earnings of $10.70-$11.50 per share in fiscal 2019, higher than $10.42 per share reported in fiscal 2018. Parker-Hannifin’s also remains on track to boost up its shareholders’ returns over time. Over the last 30 days, Zacks Consensus Estimate for the company’s earnings has been revised upward for fiscals 2019 and 2020.”
  • 10/15/2018 – Parker-Hannifin was downgraded by analysts at Cowen Inc from a “market perform” rating to an “underperform” rating.
  • 10/12/2018 – Parker-Hannifin is now covered by analysts at Gordon Haskett. They set a “sell” rating on the stock.
  • 9/28/2018 – Parker-Hannifin had its price target raised by analysts at Deutsche Bank AG from $176.00 to $184.00. They now have a “hold” rating on the stock.
  • 9/27/2018 – Parker-Hannifin had its price target raised by analysts at Wells Fargo & Co from $185.00 to $193.00. They now have a “market perform” rating on the stock.
  • 9/24/2018 – Parker-Hannifin had its price target raised by analysts at Stifel Nicolaus from $200.00 to $212.00. They now have a “buy” rating on the stock.

Shares of NYSE PH traded down $3.83 during midday trading on Tuesday, hitting $163.74. The company’s stock had a trading volume of 48,104 shares, compared to its average volume of 1,704,939. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.60. Parker-Hannifin Corp has a 1 year low of $143.00 and a 1 year high of $212.80. The firm has a market cap of $22.67 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.31 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 1st. The industrial products company reported $2.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.31. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same quarter last year, the firm posted $2.24 earnings per share. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts predict that Parker-Hannifin Corp will post 11.61 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be paid a $0.76 dividend. The ex-dividend date is Thursday, November 8th. This represents a $3.04 dividend on an annualized basis and a yield of 1.86%. Parker-Hannifin’s dividend payout ratio is currently 29.17%.

In related news, VP William R. Bowman sold 2,400 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total value of $420,864.00. Following the completion of the transaction, the vice president now owns 1,325 shares in the company, valued at $232,352. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joseph R. Leonti sold 1,605 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total transaction of $283,378.80. Following the completion of the transaction, the vice president now 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. 1.12% of the stock is owned by insiders.

Large investors have recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. lifted its position 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 worth $120,000 after buying an additional 756 shares during the last quarter. First Hawaiian Bank acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $125,000. Manchester Capital Management LLC increased its holdings in shares of Parker-Hannifin by 55.9% in the 2nd quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 350 shares during the period. Zions Bancorporation acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $161,000. Finally, Signaturefd LLC increased its holdings in shares of Parker-Hannifin by 48.3% in the 2nd quarter. Signaturefd LLC now owns 1,108 shares of the industrial products company’s stock valued at $173,000 after acquiring an additional 361 shares during the period. Institutional investors and hedge funds own 78.23% of the company’s stock.

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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