Jefferies Group LLC Reaffirms “Hold” Rating for Parker-Hannifin Corporation (NYSE:PH)

Jefferies Group LLC reiterated their hold rating on shares of Parker-Hannifin Corporation (NYSE:PH) in a research note released on Wednesday morning. The firm currently has a $165.00 price objective on the industrial products company’s stock, up from their prior price objective of $163.00. Jefferies Group also issued estimates for Parker-Hannifin Corporation’s Q1 2018 earnings at $1.95 EPS, Q3 2018 earnings at $2.35 EPS, Q4 2018 earnings at $2.65 EPS, FY2018 earnings at $9.10 EPS, FY2019 earnings at $10.30 EPS and FY2020 earnings at $11.20 EPS.

PH has been the subject of a number of other reports. Wolfe Research began coverage on shares of Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They issued an outperform rating and a $182.00 price objective for the company. Credit Suisse Group set a $189.00 price target on shares of Parker-Hannifin Corporation and gave the stock a buy rating in a research note on Sunday, May 28th. BidaskClub raised shares of Parker-Hannifin Corporation from a hold rating to a buy rating in a research note on Wednesday, June 21st. BMO Capital Markets reaffirmed a buy rating and set a $175.00 price target on shares of Parker-Hannifin Corporation in a research note on Thursday, April 20th. Finally, Zacks Investment Research cut shares of Parker-Hannifin Corporation from a buy rating to a hold rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Parker-Hannifin Corporation currently has an average rating of Buy and an average target price of $168.69.

Parker-Hannifin Corporation (PH) traded up 0.81% during mid-day trading on Wednesday, reaching $157.02. 1,013,764 shares of the company’s stock traded hands. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $167.50. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 21.66 and a beta of 1.40. The firm’s 50-day moving average price is $162.43 and its 200 day moving average price is $158.07.

Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period last year, the company posted $1.90 EPS. The business’s revenue was up 18.2% on a year-over-year basis. On average, equities analysts forecast that Parker-Hannifin Corporation will post $9.06 EPS for the current year.

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In other news, VP Martin C. Maxwell sold 2,850 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $160.08, for a total value of $456,228.00. Following the completion of the sale, the vice president now owns 21,968 shares in the company, valued at approximately $3,516,637.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $160.98, for a total transaction of $407,279.40. Following the completion of the sale, the vice president now owns 21,753 shares of the company’s stock, valued at approximately $3,501,797.94. The disclosure for this sale can be found here. Insiders own 2.73% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Parker-Hannifin Corporation by 1.0% in the second quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock valued at $1,397,867,000 after buying an additional 90,732 shares during the period. BlackRock Inc. raised its position in Parker-Hannifin Corporation by 3.6% in the second quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock valued at $1,352,775,000 after buying an additional 298,047 shares during the period. Jennison Associates LLC raised its position in Parker-Hannifin Corporation by 28.5% in the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock valued at $963,146,000 after buying an additional 1,336,541 shares during the period. Longview Partners Guernsey LTD raised its position in Parker-Hannifin Corporation by 7.6% in the second quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock valued at $820,669,000 after buying an additional 362,076 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in Parker-Hannifin Corporation by 10.2% in the second quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock valued at $336,317,000 after buying an additional 194,858 shares during the period. Hedge funds and other institutional investors own 80.17% of the company’s stock.

About Parker-Hannifin Corporation

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.

Analyst Recommendations for Parker-Hannifin Corporation (NYSE:PH)

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