Parker-Hannifin (NYSE:PH) Downgraded by TheStreet

Parker-Hannifin (NYSE:PHGet Rating) was downgraded by TheStreet from a “b” rating to a “c+” rating in a research note issued on Thursday, TheStreetRatingsTable reports.

PH has been the topic of a number of other reports. Stifel Nicolaus dropped their target price on Parker-Hannifin from $343.00 to $283.00 in a research report on Monday, July 18th. Wells Fargo & Company lowered their price objective on Parker-Hannifin from $301.00 to $289.00 in a report on Tuesday, July 12th. Barclays lowered their price objective on Parker-Hannifin from $335.00 to $329.00 and set an “overweight” rating on the stock in a report on Friday, July 8th. Deutsche Bank Aktiengesellschaft lowered their price objective on Parker-Hannifin from $336.00 to $274.00 and set a “hold” rating on the stock in a report on Wednesday, July 13th. Finally, Mizuho lifted their price objective on Parker-Hannifin from $245.00 to $300.00 and gave the stock a “neutral” rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $327.23.

Parker-Hannifin Price Performance

NYSE:PH opened at $292.82 on Thursday. Parker-Hannifin has a 52 week low of $230.44 and a 52 week high of $340.00. The company has a quick ratio of 1.09, a current ratio of 2.06 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $37.59 billion, a PE ratio of 29.05, a price-to-earnings-growth ratio of 1.75 and a beta of 1.57. The stock’s 50-day moving average price is $261.49 and its 200-day moving average price is $277.60.

Parker-Hannifin (NYSE:PHGet Rating) last posted its earnings results on Thursday, August 4th. The industrial products company reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.67 by $0.49. Parker-Hannifin had a return on equity of 27.81% and a net margin of 8.29%. The firm had revenue of $4.19 billion for the quarter, compared to analysts’ expectations of $4.07 billion. During the same period last year, the firm earned $4.38 EPS. The company’s quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts expect that Parker-Hannifin will post 18.63 EPS for the current fiscal year.

Insider Transactions at Parker-Hannifin

In related news, Director James L. Wainscott bought 1,000 shares of the stock in a transaction dated Monday, May 9th. The shares were acquired at an average cost of $273.44 per share, for a total transaction of $273,440.00. Following the acquisition, the director now directly owns 18,280 shares in the company, valued at approximately $4,998,483.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.47% of the company’s stock.

Institutional Trading of Parker-Hannifin

Institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at approximately $27,000. Mystic Asset Management Inc. purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $36,000. MCF Advisors LLC purchased a new stake in Parker-Hannifin in the first quarter valued at approximately $35,000. Cyrus J. Lawrence LLC purchased a new stake in Parker-Hannifin in the first quarter valued at approximately $35,000. Finally, FinTrust Capital Advisors LLC purchased a new stake in Parker-Hannifin in the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.55% of the company’s stock.

About Parker-Hannifin

(Get Rating)

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments, Diversified Industrial and Aerospace Systems. The Company's Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; 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; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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