Jefferies Group LLC set a $163.00 price target on Parker-Hannifin Corporation (NYSE:PH) in a research note released on Wednesday, June 28th. The brokerage currently has a hold rating on the industrial products company’s stock.
A number of other equities analysts also recently issued reports on PH. Credit Suisse Group set a $189.00 price target on Parker-Hannifin Corporation and gave the stock a buy rating in a research report on Sunday, April 30th. Barclays PLC set a $162.00 price target on Parker-Hannifin Corporation and gave the stock a hold rating in a research report on Sunday, April 30th. Goldman Sachs Group, Inc. (The) initiated coverage on Parker-Hannifin Corporation in a research report on Monday, March 13th. They set a buy rating and a $180.00 price target on the stock. BidaskClub raised Parker-Hannifin Corporation from a hold rating to a buy rating in a research report on Wednesday, June 21st. Finally, ValuEngine raised Parker-Hannifin Corporation from a hold rating to a buy rating in a research report on Wednesday, June 14th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Parker-Hannifin Corporation currently has an average rating of Buy and an average price target of $165.18.
Parker-Hannifin Corporation (NYSE PH) traded up 0.41% during midday trading on Wednesday, reaching $164.75. 745,826 shares of the company’s stock were exchanged. The stock has a market cap of $21.94 billion, a PE ratio of 24.00 and a beta of 1.40. The firm has a 50 day moving average of $161.66 and a 200-day moving average of $156.84. Parker-Hannifin Corporation has a 12 month low of $112.26 and a 12 month high of $167.50.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings data on Thursday, April 27th. The industrial products company reported $2.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.25. The company had revenue of $3.12 billion for the quarter, compared to the consensus estimate of $3.03 billion. Parker-Hannifin Corporation had a return on equity of 22.14% and a net margin of 8.11%. Parker-Hannifin Corporation’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.51 EPS. On average, equities research analysts predict that Parker-Hannifin Corporation will post $7.93 earnings per share for the current year.
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In other Parker-Hannifin Corporation news, VP Robert W. Malone sold 793 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $159.36, for a total value of $126,372.48. Following the sale, the vice president now directly owns 11,549 shares of the company’s stock, valued at $1,840,448.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP William R. Bowman sold 2,900 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $158.92, for a total value of $460,868.00. Following the completion of the sale, the vice president now directly owns 1,172 shares in the company, valued at $186,254.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,073 shares of company stock worth $1,450,748. 2.73% of the stock is owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Harbour Capital Advisors LLC purchased a new stake in Parker-Hannifin Corporation during the first quarter valued at about $112,000. Quadrant Capital Group LLC boosted its position in Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares during the last quarter. TrimTabs Asset Management LLC boosted its position in Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after buying an additional 400 shares during the last quarter. FNY Partners Fund LP bought a new position in Parker-Hannifin Corporation during the first quarter valued at approximately $160,000. Finally, Independent Portfolio Consultants Inc. boosted its position in Parker-Hannifin Corporation by 74.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock valued at $180,000 after buying an additional 479 shares during the last quarter. Institutional investors own 79.95% of the company’s stock.
Parker-Hannifin Corporation Company Profile
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.
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