Parker-Hannifin’s (PH) “Buy” Rating Reaffirmed at Stifel Nicolaus
Parker-Hannifin (NYSE:PH – Get Free Report)’s stock had its “buy” rating reiterated by analysts at Stifel Nicolaus in a note issued to investors on Monday, Benzinga reports. They presently have a $500.00 price target on the industrial products company’s stock. Stifel Nicolaus’ price target points to a potential upside of 13.93% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. StockNews.com began coverage on Parker-Hannifin in a report on Thursday, October 5th. They set a “buy” rating for the company. Morgan Stanley lifted their price target on Parker-Hannifin from $408.00 to $448.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Deutsche Bank Aktiengesellschaft raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and increased their price objective for the company from $462.00 to $506.00 in a research note on Thursday, November 9th. Wells Fargo & Company reduced their price target on shares of Parker-Hannifin from $465.00 to $425.00 in a report on Monday, October 9th. Finally, Bank of America raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $435.00 to $475.00 in a research note on Thursday, October 5th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $452.86.
Parker-Hannifin Price Performance
Shares of NYSE:PH traded down $1.29 on Monday, reaching $438.87. 234,311 shares of the company were exchanged, compared to its average volume of 796,235. The company has a 50-day moving average of $401.47 and a 200-day moving average of $391.46. The company has a current ratio of 0.89, a quick ratio of 0.50 and a debt-to-equity ratio of 0.81. The firm has a market cap of $56.39 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 1.61 and a beta of 1.50. Parker-Hannifin has a 1-year low of $281.19 and a 1-year high of $441.09.
Parker-Hannifin (NYSE:PH – Get Free Report) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $5.96 earnings per share for the quarter, topping the consensus estimate of $5.33 by $0.63. Parker-Hannifin had a net margin of 11.92% and a return on equity of 29.56%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.88 billion. During the same period in the prior year, the business posted $4.74 earnings per share. The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities analysts forecast that Parker-Hannifin will post 23.18 earnings per share for the current fiscal year.
Insider Activity at Parker-Hannifin
In other news, Director Joseph Scaminace sold 1,660 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $409.91, for a total transaction of $680,450.60. Following the transaction, the director now directly owns 5,487 shares in the company, valued at approximately $2,249,176.17. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.03% of the company’s stock.
Institutional Trading of Parker-Hannifin
A number of institutional investors and hedge funds have recently made changes to their positions in PH. Vanguard Group Inc. raised its holdings in shares of Parker-Hannifin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock worth $2,794,892,000 after purchasing an additional 190,889 shares during the period. State Street Corp raised its holdings in Parker-Hannifin by 0.8% in the second quarter. State Street Corp now owns 5,559,538 shares of the industrial products company’s stock valued at $2,168,442,000 after buying an additional 41,684 shares during the period. Ameriprise Financial Inc. lifted its position in Parker-Hannifin by 16.0% during the first quarter. Ameriprise Financial Inc. now owns 3,702,940 shares of the industrial products company’s stock valued at $1,244,593,000 after buying an additional 511,658 shares in the last quarter. FMR LLC grew its stake in Parker-Hannifin by 9.6% during the third quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after buying an additional 324,063 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Parker-Hannifin by 1.6% in the second quarter. JPMorgan Chase & Co. now owns 3,190,496 shares of the industrial products company’s stock worth $1,244,421,000 after acquiring an additional 50,787 shares in the last quarter. 82.25% of the stock is currently owned by institutional investors and hedge funds.
About Parker-Hannifin (Get Free Report)
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 Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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Original: MarketBeat News Feed: Parker-Hannifin’s (PH) “Buy” Rating Reaffirmed at Stifel Nicolaus