Robert W. Baird Increases Parker-Hannifin Corporation (PH) Price Target to $194.00
Parker-Hannifin Corporation (NYSE:PH) had its price objective increased by Robert W. Baird from $183.00 to $194.00 in a research note issued to investors on Friday. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target suggests a potential upside of 4.65% from the company’s previous close.
A number of other equities analysts also recently issued reports on PH. Stifel Nicolaus reiterated a “buy” rating and set a $176.00 price objective on shares of Parker-Hannifin Corporation in a research note on Thursday, July 6th. Wolfe Research initiated coverage on shares of Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They set an “outperform” rating and a $182.00 price objective on the stock. BidaskClub downgraded shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and set a $163.00 price objective on shares of Parker-Hannifin Corporation in a research note on Thursday, August 3rd. Finally, Zacks Investment Research downgraded shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $186.79.
Parker-Hannifin Corporation (PH) traded up $3.39 during midday trading on Friday, hitting $185.38. 825,843 shares of the stock were exchanged, compared to its average volume of 698,857. The stock has a market cap of $24.92 billion, a P/E ratio of 21.48 and a beta of 1.40.
Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.22. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the firm earned $1.61 earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. research analysts expect that Parker-Hannifin Corporation will post 9.22 earnings per share for the current fiscal year.
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In other Parker-Hannifin Corporation news, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total value of $437,368.80. Following the completion of the transaction, the vice president now owns 31,718 shares of the company’s stock, valued at $5,254,721.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction on Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. Insiders have sold 5,929 shares of company stock valued at $979,553 over the last quarter. Insiders own 1.12% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of PH. Thrivent Financial For Lutherans boosted its position in Parker-Hannifin Corporation by 5.6% during the first quarter. Thrivent Financial For Lutherans now owns 4,905 shares of the industrial products company’s stock worth $786,000 after acquiring an additional 260 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in Parker-Hannifin Corporation during the first quarter worth about $422,000. Point72 Asset Management L.P. acquired a new position in Parker-Hannifin Corporation in the 1st quarter valued at about $5,275,000. Piedmont Investment Advisors LLC boosted its holdings in Parker-Hannifin Corporation by 1.7% in the 1st quarter. Piedmont Investment Advisors LLC now owns 9,911 shares of the industrial products company’s stock valued at $1,589,000 after purchasing an additional 170 shares during the last quarter. Finally, Copper Rock Capital Partners LLC boosted its holdings in Parker-Hannifin Corporation by 114.8% in the 2nd quarter. Copper Rock Capital Partners LLC now owns 4,942 shares of the industrial products company’s stock valued at $692,000 after purchasing an additional 2,641 shares during the last quarter. Hedge funds and other institutional investors own 79.50% of the company’s stock.
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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