Parker-Hannifin Corp (PH) Receives $161.43 Average PT from Brokerages
Parker-Hannifin Corp (NYSE:PH) has received a consensus recommendation of “Buy” from the twenty ratings firms that are presently covering the company. One analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $162.14.
Several research analysts recently issued reports on the stock. BMO Capital Markets reissued a “buy” rating and set a $175.00 target price on shares of Parker-Hannifin Corp in a report on Thursday. Barclays PLC reissued an “equal weight” rating and set a $148.00 target price (down previously from $158.00) on shares of Parker-Hannifin Corp in a report on Wednesday. Jefferies Group LLC reissued a “sell” rating on shares of Parker-Hannifin Corp in a report on Friday, April 14th. Credit Suisse Group AG set a $169.00 target price on shares of Parker-Hannifin Corp and gave the stock a “buy” rating in a report on Wednesday, April 12th. Finally, Zacks Investment Research raised shares of Parker-Hannifin Corp from a “hold” rating to a “buy” rating and set a $180.00 target price for the company in a report on Monday, April 10th.
In other news, EVP Jon P. Marten sold 7,913 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $155.68, for a total value of $1,231,895.84. Following the transaction, the executive vice president now directly owns 44,413 shares of the company’s stock, valued at $6,914,215.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Klaus Peter Muller purchased 1,000 shares of the firm’s stock in a transaction dated Friday, March 10th. The stock was acquired at an average cost of $157.75 per share, for a total transaction of $157,750.00. The disclosure for this purchase can be found here. In the last quarter, insiders sold 42,184 shares of company stock worth $6,675,032. Company insiders own 2.73% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in Parker-Hannifin Corp during the fourth quarter valued at $356,535,000. AQR Capital Management LLC increased its position in Parker-Hannifin Corp by 82.9% in the fourth quarter. AQR Capital Management LLC now owns 1,429,288 shares of the industrial products company’s stock valued at $200,100,000 after buying an additional 647,693 shares in the last quarter. State Street Corp increased its position in Parker-Hannifin Corp by 7.0% in the fourth quarter. State Street Corp now owns 5,859,377 shares of the industrial products company’s stock valued at $820,316,000 after buying an additional 382,022 shares in the last quarter. Scopus Asset Management L.P. acquired a new position in Parker-Hannifin Corp during the third quarter valued at $47,701,000. Finally, Teachers Advisors LLC increased its position in Parker-Hannifin Corp by 77.0% in the fourth quarter. Teachers Advisors LLC now owns 818,413 shares of the industrial products company’s stock valued at $114,578,000 after buying an additional 355,986 shares in the last quarter. 82.72% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of Parker-Hannifin Corp (NYSE:PH) traded up 1.45% during trading on Monday, reaching $157.07. 1,011,246 shares of the company were exchanged. Parker-Hannifin Corp has a 1-year low of $99.10 and a 1-year high of $163.14. The firm has a market capitalization of $20.94 billion, a PE ratio of 24.23 and a beta of 1.28. The company’s 50-day moving average is $157.99 and its 200 day moving average is $143.70. Parker-Hannifin Corp also was the target of unusually large options trading activity on Monday. Traders purchased 3,438 put options on the company. This is an increase of approximately 483% compared to the typical volume of 590 put options.
Parker-Hannifin Corp (NYSE:PH) last issued its earnings results on Thursday, February 2nd. The industrial products company reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.39 by $0.52. Parker-Hannifin Corp had a net margin of 7.86% and a return on equity of 20.08%. The firm earned $2.67 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter last year, the company posted $1.52 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. Equities research analysts expect that Parker-Hannifin Corp will post $7.49 EPS for the current fiscal year.
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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