Parker-Hannifin Corp (PH) Receives Average Rating of “Buy” from Brokerages

Shares of Parker-Hannifin Corp (NYSE:PH) have been given a consensus recommendation of “Buy” by the twenty-two analysts that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $198.21.

Several analysts have issued reports on the stock. Morgan Stanley lowered shares of Parker-Hannifin from an “overweight” rating to an “equal weight” rating and set a $188.00 price target on the stock. in a research report on Monday, October 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $245.00 target price (up from $218.00) on shares of Parker-Hannifin in a research report on Tuesday. Zacks Investment Research lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. ValuEngine lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Buckingham Research lifted their target price on shares of Parker-Hannifin from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 3rd.

In related news, VP Thomas C. Gentile sold 326 shares of Parker-Hannifin stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $181.89, for a total transaction of $59,296.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert W. Malone sold 540 shares of Parker-Hannifin stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.37, for a total transaction of $100,639.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,495 shares of company stock worth $4,127,941. 1.12% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. IHT Wealth Management LLC lifted its holdings in Parker-Hannifin by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 20 shares during the last quarter. BT Investment Management Ltd bought a new position in Parker-Hannifin during the 2nd quarter valued at about $124,000. Sun Life Financial INC raised its stake in shares of Parker-Hannifin by 8,108.3% in the second quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 973 shares during the last quarter. Americafirst Capital Management LLC bought a new position in shares of Parker-Hannifin in the second quarter worth about $167,000. Finally, Steward Partners Investment Advisory LLC bought a new position in shares of Parker-Hannifin in the third quarter worth about $168,000. 78.05% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin (NYSE PH) traded up $0.40 during midday trading on Friday, reaching $210.94. 901,606 shares of the company’s stock traded hands, compared to its average volume of 832,627. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. The firm has a market cap of $28,100.00, a price-to-earnings ratio of 27.08, a price-to-earnings-growth ratio of 1.87 and a beta of 1.40. Parker-Hannifin has a 52 week low of $141.06 and a 52 week high of $212.80.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.22. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period last year, the business posted $1.61 EPS. sell-side analysts forecast that Parker-Hannifin will post 9.68 earnings per share for the current year.

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Parker-Hannifin 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.

Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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