Wells Fargo & Co cut shares of Parker-Hannifin (NYSE:PH) from an outperform rating to a market perform rating in a research note published on Wednesday, BenzingaRatingsTable reports. They currently have $175.00 price objective on the industrial products company’s stock.
Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus raised shares of QUALCOMM from a hold rating to a buy rating and lifted their target price for the stock from $57.00 to $100.00 in a report on Tuesday, April 16th. Citigroup lifted their target price on shares of SolarWinds from $20.00 to $23.00 and gave the stock a buy rating in a report on Monday, May 6th. Morgan Stanley set a $18.00 target price on shares of PG&E and gave the stock a hold rating in a report on Friday, June 14th. Barclays lifted their target price on shares of Stanley Black & Decker from $135.00 to $145.00 and gave the stock an overweight rating in a report on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. set a GBX 3,200 ($41.81) target price on shares of Diageo and gave the stock a neutral rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $179.75.
NYSE:PH opened at $169.07 on Wednesday. Parker-Hannifin has a one year low of $140.82 and a one year 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. The business’s 50-day simple moving average is $164.49. The company has a market capitalization of $21.69 billion, a price-to-earnings ratio of 14.40, a P/E/G ratio of 1.53 and a beta of 1.55.
Parker-Hannifin (NYSE:PH) last posted 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. Parker-Hannifin had a net margin of 10.04% and a return on equity of 26.27%. The business had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm posted $2.80 earnings per share. Parker-Hannifin’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, analysts anticipate that Parker-Hannifin will post 11.63 earnings per share for the current year.
In other news, VP Robert W. Malone sold 336 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $156.76, for a total transaction of $52,671.36. Following the completion of the transaction, the vice president now directly owns 24,260 shares of the company’s stock, valued at $3,802,997.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.12% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dubuque Bank & Trust Co. raised its holdings in shares of Parker-Hannifin by 97.5% during the first quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 78 shares during the last quarter. Trustcore Financial Services LLC purchased a new position in shares of Parker-Hannifin during the first quarter valued at approximately $34,000. Gemmer Asset Management LLC raised its holdings in shares of Parker-Hannifin by 162.3% during the first quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 125 shares during the last quarter. HMS Capital Management LLC purchased a new position in shares of Parker-Hannifin during the second quarter valued at approximately $36,000. Finally, Captrust Financial Advisors raised its holdings in shares of Parker-Hannifin by 416.7% during the fourth quarter. Captrust Financial Advisors now owns 310 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 250 shares during the last quarter. 79.64% of the stock is owned by hedge funds and other institutional investors.
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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