Parker-Hannifin Corp (PH) Given Consensus Rating of “Hold” by Analysts

Shares of Parker-Hannifin Corp (NYSE:PH) have earned a consensus recommendation of “Hold” from the twenty-two brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $181.20.

Several equities analysts have recently issued reports on PH shares. Robert W. Baird set a $180.00 target price on Parker-Hannifin and gave the company a “buy” rating in a report on Saturday, February 2nd. Barclays reduced their price objective on Parker-Hannifin from $186.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, December 17th. Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and reduced their price objective for the company from $181.00 to $171.00 in a report on Friday, February 1st. Zacks Investment Research lowered Parker-Hannifin from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Finally, Morgan Stanley set a $172.00 price objective on Parker-Hannifin and gave the company a “hold” rating in a report on Saturday, February 2nd.

Shares of PH stock traded down $0.29 during trading on Monday, hitting $188.35. The company’s stock had a trading volume of 29,730 shares, compared to its average volume of 886,470. The firm has a market cap of $24.40 billion, a PE ratio of 18.06, a P/E/G ratio of 1.75 and a beta of 1.46. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.74. Parker-Hannifin has a 52 week low of $140.82 and a 52 week high of $193.19.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 31st. The industrial products company reported $2.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.10. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.45 billion. Parker-Hannifin had a return on equity of 25.82% and a net margin of 9.69%. During the same period in the prior year, the company posted $2.15 earnings per share. On average, research analysts expect that Parker-Hannifin will post 11.65 earnings per share for the current year.

In related news, VP Roger S. Sherrard sold 2,040 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $171.80, for a total value of $350,472.00. Following the sale, the vice president now owns 62,620 shares in the company, valued at $10,758,116. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew M. Weeks sold 4,520 shares of the stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $176.70, for a total value of $798,684.00. The disclosure for this sale can be found here. Insiders sold 10,445 shares of company stock valued at $1,814,218 over the last ninety days. Corporate insiders own 1.12% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $357,950,000. Longview Partners Guernsey LTD increased its holdings in shares of Parker-Hannifin by 41.6% in the fourth quarter. Longview Partners Guernsey LTD now owns 5,626,117 shares of the industrial products company’s stock worth $839,079,000 after buying an additional 1,653,011 shares during the period. BlackRock Inc. increased its holdings in shares of Parker-Hannifin by 3.7% in the fourth quarter. BlackRock Inc. now owns 8,457,062 shares of the industrial products company’s stock worth $1,261,286,000 after buying an additional 299,331 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Parker-Hannifin by 18.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,739,098 shares of the industrial products company’s stock worth $259,369,000 after buying an additional 270,202 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Parker-Hannifin by 9.6% in the third quarter. JPMorgan Chase & Co. now owns 2,942,573 shares of the industrial products company’s stock worth $541,228,000 after buying an additional 258,502 shares during the period. Institutional investors own 81.37% of the company’s stock.

About Parker-Hannifin

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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Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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