Parker-Hannifin Corporation (NYSE:PH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, October 17th.
According to Zacks, “Over the past year, Parker-Hannifin’s shares have outperformed the industry’s average gain. The company has a robust earnings surprise history, with consecutive earnings beats in the four trailing quarters. Parker-Hannifin expects to gain traction from improving demand, incremental savings from its realignment actions and its revamped Win Strategy. The company hopes to deliver a growth rate of 8% in earnings, over the next five years. Further, it has made two strategic acquisitions — CLARCOR and Helac Corp., which will boost its filtration and Hydraulics businesses respectively. However, prolonged sluggishness in the natural resources market, particularly oil and gas and agriculture, as well as softness in business jet markets are proving to be major concerns. In addition, strengthening of the U.S. dollar and escalating restructuring charges are expected to hurt the company’s financials.”
A number of other research analysts also recently issued reports on the company. ValuEngine upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. BidaskClub cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Morgan Stanley cut Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price objective for the company. in a research report on Monday, October 2nd. Jefferies Group LLC set a $163.00 price objective on Parker-Hannifin Corporation and gave the stock a “hold” rating in a research report on Wednesday, June 28th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $185.00 price target on shares of Parker-Hannifin Corporation in a research report on Saturday, September 16th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $187.84.
Parker-Hannifin Corporation (PH) traded down $0.68 on Tuesday, reaching $184.70. The company’s stock had a trading volume of 464,299 shares, compared to its average volume of 693,346. The stock has a market cap of $24,692.63, a P/E ratio of 21.28, a P/E/G ratio of 1.70 and a beta of 1.40. Parker-Hannifin Corporation has a one year low of $119.13 and a one year high of $189.83. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.22. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the business posted $1.61 EPS. The business’s revenue was up 22.7% compared to the same quarter last year. equities analysts anticipate that Parker-Hannifin Corporation will post 9.37 EPS for the current year.
In other Parker-Hannifin Corporation news, Director Joseph Scaminace sold 500 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Lee C. Banks sold 5,286 shares of the stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $186.38, for a total transaction of $985,204.68. Following the sale, the chief operating officer now owns 112,808 shares of the company’s stock, valued at approximately $21,025,155.04. The disclosure for this sale can be found here. Insiders sold 11,215 shares of company stock worth $1,964,758 in the last three months. 1.12% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. lifted its position in Parker-Hannifin Corporation by 1.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,306 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 15 shares during the period. IHT Wealth Management LLC lifted its position in Parker-Hannifin Corporation by 20.8% in the second 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 period. Parallel Advisors LLC lifted its position in Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 24 shares during the period. People s United Financial Inc. lifted its position in Parker-Hannifin Corporation by 0.5% in the second quarter. People s United Financial Inc. now owns 6,079 shares of the industrial products company’s stock valued at $972,000 after purchasing an additional 31 shares during the period. Finally, Calamos Wealth Management LLC lifted its position in Parker-Hannifin Corporation by 0.4% in the second quarter. Calamos Wealth Management LLC now owns 8,144 shares of the industrial products company’s stock valued at $1,302,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 79.64% of the company’s stock.
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.
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