Parker-Hannifin Corporation (PH) Rating Reiterated by Cowen and Company

Parker-Hannifin Corporation (NYSE:PH)‘s stock had its “hold” rating reiterated by investment analysts at Cowen and Company in a research note issued to investors on Friday. They currently have a $140.00 target price on the industrial products company’s stock. Cowen and Company’s price objective would indicate a potential downside of 20.98% from the stock’s previous close.

A number of other brokerages have also commented on PH. Wells Fargo & Company boosted their price target on Parker-Hannifin Corporation from $181.50 to $196.00 and gave the company a “market perform” rating in a report on Friday. Morgan Stanley lowered Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price target on the stock. in a report on Monday, October 2nd. KeyCorp restated an “overweight” rating and issued a $185.00 price target on shares of Parker-Hannifin Corporation in a report on Saturday, September 16th. Stifel Nicolaus set a $198.00 price target on Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Friday, August 4th. Finally, BidaskClub lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $175.88.

Shares of Parker-Hannifin Corporation (NYSE:PH) opened at 177.18 on Friday. The stock’s 50 day moving average price is $167.47 and its 200-day moving average price is $161.68. The stock has a market capitalization of $23.59 billion, a P/E ratio of 24.44 and a beta of 1.42. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $178.39.

Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.14. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.90 earnings per share. Equities research analysts anticipate that Parker-Hannifin Corporation will post $9.08 EPS for the current fiscal year.

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In other news, Director Joseph Scaminace sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $158.35, for a total value of $79,175.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Martin C. Maxwell sold 2,640 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total value of $437,368.80. Following the completion of the transaction, the vice president now directly owns 31,718 shares in the company, valued at approximately $5,254,721.06. The disclosure for this sale can be found here. Insiders sold 5,389 shares of company stock worth $878,913 in the last 90 days. Corporate insiders own 1.12% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Centre Asset Management LLC grew its position in shares of Parker-Hannifin Corporation by 18.6% in the third quarter. Centre Asset Management LLC now owns 50,780 shares of the industrial products company’s stock valued at $8,888,000 after purchasing an additional 7,970 shares during the last quarter. USA Financial Portformulas Corp grew its position in shares of Parker-Hannifin Corporation by 19.2% in the second quarter. USA Financial Portformulas Corp now owns 21,544 shares of the industrial products company’s stock valued at $3,443,000 after purchasing an additional 3,476 shares during the last quarter. Sentry Investment Management LLC grew its position in shares of Parker-Hannifin Corporation by 1.9% in the second quarter. Sentry Investment Management LLC now owns 34,457 shares of the industrial products company’s stock valued at $5,507,000 after purchasing an additional 658 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Parker-Hannifin Corporation by 22.1% in the second quarter. Toronto Dominion Bank now owns 50,534 shares of the industrial products company’s stock valued at $8,077,000 after purchasing an additional 9,147 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Parker-Hannifin Corporation by 145.6% in the second quarter. Advisory Services Network LLC now owns 1,191 shares of the industrial products company’s stock valued at $190,000 after purchasing an additional 706 shares during the last quarter. 79.71% of the stock is currently owned by institutional investors.

Parker-Hannifin Corporation 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 Corporation (NYSE:PH)

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