Parker Hannifin (NYSE:PH)‘s stock had its “buy” rating restated by stock analysts at Stifel Nicolaus in a report issued on Monday, April 9th, Marketbeat Ratings reports. They currently have a $200.00 price target on the industrial products company’s stock, down from their previous price target of $232.00. Stifel Nicolaus’ target price would suggest a potential upside of 13.52% from the stock’s previous close.
A number of other research firms have also recently weighed in on PH. Wells Fargo upped their target price on shares of Parker Hannifin from $205.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Zacks Investment Research raised shares of Parker Hannifin from a “hold” rating to a “buy” rating and set a $236.00 target price on the stock in a research note on Thursday, January 18th. Buckingham Research reaffirmed a “neutral” rating and set a $210.00 price objective on shares of Parker Hannifin in a research note on Friday, January 19th. They noted that the move was a valuation call. Cowen reaffirmed a “hold” rating and set a $180.00 price objective on shares of Parker Hannifin in a research note on Wednesday, January 10th. Finally, Citigroup upped their price objective on shares of Parker Hannifin from $195.00 to $220.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $201.44.
NYSE PH opened at $176.18 on Monday. The stock has a market capitalization of $23,743.83, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 1.54 and a beta of 1.42. Parker Hannifin has a twelve month low of $151.17 and a twelve month high of $212.80. The company has a current ratio of 1.49, a quick ratio of 0.99 and a debt-to-equity ratio of 0.87.
In other news, Director Joseph Scaminace sold 1,149 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $184.24, for a total transaction of $211,691.76. Following the transaction, the director now directly owns 14,189 shares in the company, valued at $2,614,181.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Roger S. Sherrard sold 2,109 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $182.12, for a total transaction of $384,091.08. Following the completion of the transaction, the vice president now owns 51,865 shares in the company, valued at $9,445,653.80. The disclosure for this sale can be found here. Insiders have sold 4,258 shares of company stock worth $780,753 over the last quarter. 1.12% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sentry Investment Management LLC lifted its holdings in Parker Hannifin by 0.8% in the fourth quarter. Sentry Investment Management LLC now owns 34,739 shares of the industrial products company’s stock valued at $6,933,000 after buying an additional 282 shares during the period. San Francisco Sentry Investment Group CA lifted its holdings in Parker Hannifin by 139.3% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 579 shares of the industrial products company’s stock valued at $116,000 after buying an additional 337 shares during the period. FDx Advisors Inc. lifted its holdings in Parker Hannifin by 6.9% in the fourth quarter. FDx Advisors Inc. now owns 5,418 shares of the industrial products company’s stock valued at $1,081,000 after buying an additional 349 shares during the period. CIBC World Markets Inc. lifted its holdings in Parker Hannifin by 29.8% in the fourth quarter. CIBC World Markets Inc. now owns 1,642 shares of the industrial products company’s stock valued at $328,000 after buying an additional 377 shares during the period. Finally, Wetherby Asset Management Inc. lifted its holdings in Parker Hannifin by 11.0% in the fourth quarter. Wetherby Asset Management Inc. now owns 4,035 shares of the industrial products company’s stock valued at $805,000 after buying an additional 399 shares during the period. Institutional investors and hedge funds own 81.63% of the company’s stock.
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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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