Parker-Hannifin Corp (PH) Given Average Rating of “Buy” by Brokerages

Parker-Hannifin Corp (NYSE:PH) has been given a consensus recommendation of “Buy” by the twenty ratings firms that are currently covering the stock. Four equities research analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $159.53.

A number of research analysts recently commented on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $145.00 price target on shares of Parker-Hannifin Corp in a research note on Friday, March 17th. Cowen and Company upped their price target on shares of Parker-Hannifin Corp from $110.00 to $140.00 and gave the company a “market perform” rating in a research note on Monday, March 13th. Goldman Sachs Group Inc assumed coverage on shares of Parker-Hannifin Corp in a research note on Monday, March 13th. They issued a “buy” rating and a $180.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price target on shares of Parker-Hannifin Corp in a research note on Thursday, March 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Parker-Hannifin Corp from a “neutral” rating to an “overweight” rating and set a $173.00 price target on the stock in a research note on Wednesday, February 22nd.

Shares of Parker-Hannifin Corp (NYSE:PH) opened at 155.65 on Thursday. Parker-Hannifin Corp has a 12-month low of $99.10 and a 12-month high of $160.23. The firm has a market cap of $20.75 billion, a price-to-earnings ratio of 24.01 and a beta of 1.28. The stock’s 50 day moving average is $155.38 and its 200 day moving average is $139.40.

Parker-Hannifin Corp (NYSE:PH) last released its quarterly earnings data on Thursday, February 2nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.52. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.69 billion. Parker-Hannifin Corp had a net margin of 7.86% and a return on equity of 20.08%. Parker-Hannifin Corp’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 EPS. Equities analysts expect that Parker-Hannifin Corp will post $7.45 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Friday, February 10th were issued a $0.66 dividend. The ex-dividend date of this dividend was Wednesday, February 8th. This represents a $2.64 dividend on an annualized basis and a yield of 1.70%. This is an increase from Parker-Hannifin Corp’s previous quarterly dividend of $0.63. Parker-Hannifin Corp’s payout ratio is currently 40.80%.

In other Parker-Hannifin Corp news, Director Klaus Peter Muller acquired 1,000 shares of the business’s stock in a transaction on Friday, March 10th. The stock was purchased at an average price of $157.75 per share, with a total value of $157,750.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Lee C. Banks sold 9,593 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $157.25, for a total transaction of $1,508,499.25. Following the completion of the sale, the chief operating officer now directly owns 81,817 shares of the company’s stock, valued at approximately $12,865,723.25. The disclosure for this sale can be found here. Insiders sold a total of 23,749 shares of company stock valued at $3,725,432 in the last three months. Insiders own 2.73% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Itau Unibanco Holding S.A. purchased a new stake in shares of Parker-Hannifin Corp during the third quarter worth $105,000. Bronfman E.L. Rothschild L.P. increased its stake in shares of Parker-Hannifin Corp by 236.7% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,155 shares of the company’s stock worth $145,000 after buying an additional 812 shares during the period. Cornerstone Advisors Inc. increased its stake in shares of Parker-Hannifin Corp by 398.7% in the third quarter. Cornerstone Advisors Inc. now owns 1,182 shares of the company’s stock worth $148,000 after buying an additional 945 shares during the period. Massey Quick & Co. LLC purchased a new stake in shares of Parker-Hannifin Corp during the fourth quarter worth $168,000. Finally, Global X Management Co. LLC increased its stake in shares of Parker-Hannifin Corp by 133.1% in the third quarter. Global X Management Co. LLC now owns 1,226 shares of the company’s stock worth $154,000 after buying an additional 700 shares during the period. 82.72% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Mideast Time and is the sole property of of Mideast Time. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://www.mideasttime.com/parker-hannifin-corp-ph-given-average-rating-of-buy-by-brokerages/1589852.html.

About Parker-Hannifin Corp

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.

5 Day Chart for NYSE:PH

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.



Leave a Reply

 
© 2006-2017 Mideast Time.