Parker-Hannifin (NYSE:PH) had its price target decreased by Morgan Stanley from $175.00 to $173.00 in a research report released on Wednesday, Stock Target Advisor reports. Morgan Stanley currently has an equal weight rating on the industrial products company’s stock.
Several other research firms also recently commented on PH. Stifel Nicolaus upgraded QUALCOMM from a hold rating to a buy rating and raised their price objective for the stock from $57.00 to $100.00 in a report on Tuesday, April 16th. Barclays raised their price objective on Stanley Black & Decker from $135.00 to $145.00 and gave the stock an overweight rating in a report on Wednesday, April 3rd. Wells Fargo & Co raised their price objective on Apollo Global Management from $38.00 to $42.00 and gave the stock an outperform rating in a report on Wednesday. Citigroup raised their price objective on SolarWinds from $20.00 to $23.00 and gave the stock a buy rating in a report on Monday, May 6th. Finally, JPMorgan Chase & Co. set a GBX 3,200 ($41.81) price objective on Diageo and gave the stock a neutral rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $179.75.
PH opened at $169.07 on Wednesday. The business’s fifty day moving average price is $164.49. The stock has a market cap of $21.69 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.53 and a beta of 1.55. Parker-Hannifin has a 52 week low of $140.82 and a 52 week high of $193.19. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.07.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $3.17 EPS for the quarter, topping the consensus estimate of $3.01 by $0.16. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.72 billion. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. Parker-Hannifin’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business posted $2.80 EPS. Equities analysts anticipate that Parker-Hannifin will post 11.63 EPS for the current year.
In other news, VP Robert W. Malone sold 336 shares of Parker-Hannifin stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $156.76, for a total value of $52,671.36. Following the transaction, the vice president now directly owns 24,260 shares in the company, valued at approximately $3,802,997.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.12% of the company’s stock.
Several large investors have recently made changes to their positions in PH. Advisor Group Inc. boosted its position in shares of Parker-Hannifin by 13.8% in the 4th quarter. Advisor Group Inc. now owns 6,805 shares of the industrial products company’s stock worth $1,016,000 after purchasing an additional 823 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Parker-Hannifin by 23.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 683,224 shares of the industrial products company’s stock worth $101,897,000 after purchasing an additional 131,234 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth $1,600,000. Brown Advisory Inc. boosted its position in shares of Parker-Hannifin by 12.1% in the 4th quarter. Brown Advisory Inc. now owns 83,327 shares of the industrial products company’s stock worth $12,427,000 after purchasing an additional 9,025 shares in the last quarter. Finally, Kinneret Advisory LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth $235,000. Institutional investors and hedge funds own 79.64% of the company’s stock.
Parker-Hannifin Company Profile
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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