Parker-Hannifin Corporation’s (PH) Buy Rating Reaffirmed at KeyCorp

Parker-Hannifin Corporation (NYSE:PH)‘s stock had its “buy” rating restated by investment analysts at KeyCorp in a note issued to investors on Thursday. They presently have a $200.00 target price on the industrial products company’s stock. KeyCorp’s price objective would indicate a potential upside of 12.64% from the company’s previous close. KeyCorp also issued estimates for Parker-Hannifin Corporation’s Q1 2018 earnings at $1.99 EPS, FY2018 earnings at $9.10 EPS and FY2019 earnings at $10.25 EPS.

PH has been the subject of a number of other research reports. Wolfe Research began coverage on shares of Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They set an “outperform” rating and a $182.00 target price for the company. Morgan Stanley cut shares of Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 target price for the company. in a research note on Monday, October 2nd. Zacks Investment Research raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $198.00 target price for the company in a research note on Tuesday. BidaskClub raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Robert W. Baird set a $163.00 target price on shares of Parker-Hannifin Corporation and gave the stock a “hold” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Parker-Hannifin Corporation presently has a consensus rating of “Buy” and a consensus target price of $178.06.

Shares of Parker-Hannifin Corporation (PH) traded up 1.42% on Thursday, hitting $180.08. The stock had a trading volume of 793,265 shares. The firm has a market cap of $23.97 billion, a P/E ratio of 24.84 and a beta of 1.42. The firm’s 50-day moving average price is $169.27 and its 200 day moving average price is $162.15. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $180.19.

Parker-Hannifin Corporation (NYSE:PH) last released its earnings results 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. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 earnings per share. Analysts anticipate that Parker-Hannifin Corporation will post $9.11 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Parker-Hannifin Corporation’s (PH) Buy Rating Reaffirmed at KeyCorp” was originally posted by Transcript Daily and is owned by of Transcript Daily. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://transcriptdaily.com/2017/10/12/parker-hannifin-corporations-ph-buy-rating-reaffirmed-at-keycorp.html.

In other news, VP Martin C. Maxwell sold 2,640 shares of the 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 sale, the vice president now owns 31,718 shares of the company’s stock, valued at approximately $5,254,721.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Joseph R. Leonti sold 408 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total transaction of $65,565.60. Following the completion of the sale, the vice president now directly owns 7,318 shares of the company’s stock, valued at approximately $1,176,002.60. The disclosure for this sale can be found here. In the last three months, insiders sold 5,389 shares of company stock valued at $878,913. Corporate insiders own 1.12% of the company’s stock.

Several institutional investors have recently bought and sold shares of PH. BlackRock Inc. grew its stake in shares of Parker-Hannifin Corporation by 2,619.0% in the 1st quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock valued at $1,309,223,000 after buying an additional 7,865,974 shares during the period. FMR LLC grew its stake in shares of Parker-Hannifin Corporation by 1,163.3% in the 1st quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock valued at $281,346,000 after buying an additional 1,615,987 shares during the period. Jennison Associates LLC grew its stake in shares of Parker-Hannifin Corporation by 28.5% in the 2nd 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. Voya Investment Management LLC grew its stake in shares of Parker-Hannifin Corporation by 1,175.0% in the 2nd quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock valued at $215,499,000 after buying an additional 1,242,624 shares during the period. Finally, Koch Industries Inc. purchased a new stake in shares of Parker-Hannifin Corporation in the 2nd quarter valued at approximately $521,000. 79.72% of the stock is owned by institutional investors and hedge funds.

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)

Receive News & Ratings for Parker-Hannifin Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply