Several other equities analysts have also recently issued reports on PH. Zacks Investment Research cut Parker-Hannifin Corp from a buy rating to a hold rating in a research report on Friday, April 7th. Goldman Sachs Group Inc assumed coverage on Parker-Hannifin Corp in a research report on Monday, March 13th. They set a buy rating and a $180.00 price target on the stock. Argus upgraded Parker-Hannifin Corp from a hold rating to a buy rating and set a $176.00 target price on the stock in a report on Tuesday, February 7th. Avondale Partners upgraded Parker-Hannifin Corp from a market perform rating to a market outperform rating in a report on Wednesday, February 1st. Finally, Aegis upgraded Parker-Hannifin Corp from a hold rating to a buy rating and set a $160.00 target price on the stock in a report on Friday, January 6th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Parker-Hannifin Corp currently has a consensus rating of Buy and a consensus price target of $157.13.
Parker-Hannifin Corp (NYSE:PH) traded down 0.89% during trading on Wednesday, reaching $154.04. The company had a trading volume of 967,086 shares. The firm has a market capitalization of $20.53 billion, a price-to-earnings ratio of 23.76 and a beta of 1.28. The stock has a 50 day moving average price of $157.92 and a 200 day moving average price of $142.65. Parker-Hannifin Corp has a 12 month low of $99.10 and a 12 month high of $163.14.
Parker-Hannifin Corp (NYSE:PH) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.52. Parker-Hannifin Corp had a return on equity of 20.08% and a net margin of 7.86%. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the firm earned $1.52 EPS. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities research analysts predict that Parker-Hannifin Corp will post $7.47 earnings per share for the current year.
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In other news, EVP Jon P. Marten sold 7,913 shares of the company’s stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $155.68, for a total value of $1,231,895.84. Following the sale, the executive vice president now directly owns 44,413 shares in the company, valued at approximately $6,914,215.84. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP William G. Eline sold 5,586 shares of the company’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $157.71, for a total value of $880,968.06. Following the completion of the sale, the vice president now owns 15,543 shares in the company, valued at $2,451,286.53. The disclosure for this sale can be found here. Insiders have sold 42,184 shares of company stock worth $6,675,032 over the last 90 days. Corporate insiders own 2.73% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Parkwood LLC acquired a new position in shares of Parker-Hannifin Corp during the third quarter valued at approximately $280,000. Cornerstone Advisors Inc. increased its position 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 valued at $148,000 after buying an additional 945 shares during the last quarter. Wagner Bowman Management Corp increased its position in shares of Parker-Hannifin Corp by 10.8% in the third quarter. Wagner Bowman Management Corp now owns 2,303 shares of the company’s stock valued at $289,000 after buying an additional 225 shares during the last quarter. Albert D Mason Inc. increased its position in shares of Parker-Hannifin Corp by 71.8% in the third quarter. Albert D Mason Inc. now owns 30,276 shares of the company’s stock valued at $3,801,000 after buying an additional 12,658 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC acquired a new position in shares of Parker-Hannifin Corp during the third quarter valued at approximately $383,000. 82.72% of the stock is currently owned by institutional investors and hedge funds.
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.
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