Goldman Sachs Group Inc. upgraded shares of Parker-Hannifin Corp. (NYSE:PH) from a sell rating to a neutral rating in a research note issued to investors on Tuesday. Goldman Sachs Group Inc. currently has $120.00 price target on the stock, up from their previous price target of $106.00.
Other analysts have also recently issued research reports about the company. KeyCorp reaffirmed a buy rating and issued a $136.00 price target on shares of Parker-Hannifin Corp. in a research report on Thursday, September 8th. Zacks Investment Research raised Parker-Hannifin Corp. from a hold rating to a buy rating and set a $127.00 price target for the company in a research report on Tuesday, June 21st. Credit Suisse Group AG reaffirmed a buy rating and issued a $131.00 price target on shares of Parker-Hannifin Corp. in a research report on Friday, August 5th. Stifel Nicolaus raised Parker-Hannifin Corp. from a hold rating to a buy rating and boosted their price target for the stock from $131.00 to $141.00 in a research report on Wednesday, October 5th. Finally, Barclays PLC boosted their price target on Parker-Hannifin Corp. from $120.00 to $121.00 and gave the stock an equal weight rating in a research report on Friday, August 5th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of Hold and a consensus price target of $117.24.
Parker-Hannifin Corp. (NYSE:PH) traded up 0.45% on Tuesday, reaching $123.62. The company’s stock had a trading volume of 176,696 shares. Parker-Hannifin Corp. has a 52 week low of $83.32 and a 52 week high of $128.24. The stock’s 50 day moving average is $123.40 and its 200-day moving average is $115.98. The firm has a market capitalization of $16.55 billion, a PE ratio of 20.99 and a beta of 1.49.
Parker-Hannifin Corp. (NYSE:PH) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The firm earned $2.96 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Parker-Hannifin Corp. had a return on equity of 18.37% and a net margin of 7.10%. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 earnings per share. Analysts predict that Parker-Hannifin Corp. will post $6.80 EPS for the current year.
In other news, VP Kurt A. Keller sold 757 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $122.12, for a total value of $92,444.84. Following the transaction, the vice president now directly owns 28,904 shares of the company’s stock, valued at approximately $3,529,756.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Martin C. Maxwell sold 893 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $120.62, for a total value of $107,713.66. Following the completion of the transaction, the vice president now directly owns 39,451 shares in the company, valued at $4,758,579.62. The disclosure for this sale can be found here. 2.73% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning increased its position in shares of Parker-Hannifin Corp. by 6.6% in the third quarter. Creative Planning now owns 20,912 shares of the company’s stock valued at $2,625,000 after buying an additional 1,292 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Parker-Hannifin Corp. by 1.7% in the third quarter. Raymond James Trust N.A. now owns 2,686 shares of the company’s stock valued at $338,000 after buying an additional 44 shares during the last quarter. Dynamic Advisors Solutions LLC acquired a new position in shares of Parker-Hannifin Corp. during the third quarter valued at approximately $394,000. Contravisory Investment Management Inc. increased its position in shares of Parker-Hannifin Corp. by 211,551.7% in the third quarter. Contravisory Investment Management Inc. now owns 61,379 shares of the company’s stock valued at $7,705,000 after buying an additional 61,350 shares during the last quarter. Finally, Catawba Capital Management VA acquired a new position in shares of Parker-Hannifin Corp. during the third quarter valued at approximately $202,000. 80.75% of the stock is currently owned by institutional investors and hedge funds.
Parker-Hannifin Corp. 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.
Receive News & Ratings for Parker-Hannifin Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin Corp. and related companies with MarketBeat.com's FREE daily email newsletter.