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.
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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.
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