Parker-Hannifin Corporation (PH) PT Raised to $200.00
Parker-Hannifin Corporation (NYSE:PH) had its price objective raised by equities researchers at Deutsche Bank AG to $200.00 in a report issued on Monday. The brokerage currently has a “buy” rating on the industrial products company’s stock. Deutsche Bank AG’s price target would suggest a potential upside of 8.52% from the stock’s previous close.
Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus set a $198.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a research report on Friday, August 4th. ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $198.00 target price on the stock in a research note on Tuesday, October 10th. KeyCorp reiterated a “buy” rating and issued a $200.00 target price on shares of Parker-Hannifin Corporation in a research note on Thursday, October 12th. Finally, Buckingham Research assumed coverage on shares of Parker-Hannifin Corporation in a research note on Tuesday, October 17th. They issued a “buy” rating and a $205.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. Parker-Hannifin Corporation currently has an average rating of “Buy” and a consensus target price of $188.95.
Shares of Parker-Hannifin Corporation (NYSE:PH) opened at $184.29 on Monday. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. The company has a market cap of $24,290.00, a PE ratio of 20.93, a PEG ratio of 1.64 and a beta of 1.40. Parker-Hannifin Corporation has a 52-week low of $134.03 and a 52-week high of $189.83.
Parker-Hannifin Corporation (NYSE:PH) last posted its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.02 by $0.22. The company had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.61 earnings per share. research analysts anticipate that Parker-Hannifin Corporation will post 9.57 EPS for the current year.
In related news, VP Joseph R. Leonti sold 408 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total transaction of $65,565.60. Following the sale, the vice president now owns 7,318 shares of the company’s stock, valued at approximately $1,176,002.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Linda S. Harty sold 3,491 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $183.30, for a total transaction of $639,900.30. Following the sale, the director now directly owns 9,727 shares in the company, valued at approximately $1,782,959.10. The disclosure for this sale can be found here. Insiders have sold a total of 25,828 shares of company stock worth $4,611,814 in the last ninety days. 1.12% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of PH. Emerald Advisers Inc. PA purchased a new stake in Parker-Hannifin Corporation during the 3rd quarter valued at $1,527,000. Tredje AP fonden lifted its position in Parker-Hannifin Corporation by 146.9% during the 2nd quarter. Tredje AP fonden now owns 13,578 shares of the industrial products company’s stock valued at $2,170,000 after acquiring an additional 8,078 shares during the period. Koch Industries Inc. purchased a new position in Parker-Hannifin Corporation during the 2nd quarter valued at about $521,000. Sand Hill Global Advisors LLC purchased a new position in Parker-Hannifin Corporation during the 2nd quarter valued at about $4,194,000. Finally, Chicago Equity Partners LLC lifted its position in Parker-Hannifin Corporation by 4.6% during the 2nd quarter. Chicago Equity Partners LLC now owns 66,375 shares of the industrial products company’s stock valued at $10,608,000 after acquiring an additional 2,930 shares during the period. 78.35% of the stock is currently owned by hedge funds and other institutional investors.
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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