Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Parker-Hannifin Corporation (NYSE:PH) Share Price
Media coverage about Parker-Hannifin Corporation (NYSE:PH) has been trending somewhat positive recently, Accern reports. Accern identifies negative and positive news coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Parker-Hannifin Corporation earned a coverage optimism score of 0.10 on Accern’s scale. Accern also gave news headlines about the industrial products company an impact score of 46.2600485202252 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Here are some of the news headlines that may have impacted Accern’s analysis:
- Parker-Hannifin Corporation (PH) Position Up in Latest Report from Principal Financial Group Inc Last Quarter – First News 24 (firstnewspaper24.com)
- Norges Bank Buys A Lot More Parker-Hannifin Corporation (PH) Stock – Modern Readers (modernreaders.com)
- Norges Bank Bought A Lot More Parker-Hannifin Corporation (PH) Stock Last Quarter – Modern Readers (modernreaders.com)
- See what the IHS Markit Score report has to say about Parker-Hannifin Corp. (finance.yahoo.com)
- Parker-Hannifin Corporation (PH) Earns “Hold” Rating from Jefferies Group LLC (americanbankingnews.com)
Several research firms recently commented on PH. ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Credit Suisse Group set a $189.00 target price on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Sunday, May 28th. Barclays PLC set a $162.00 target price on Parker-Hannifin Corporation and gave the stock a “hold” rating in a research note on Sunday, April 30th. Stifel Nicolaus reaffirmed a “buy” rating and set a $189.00 target price on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. Finally, BidaskClub cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $168.69.
Shares of Parker-Hannifin Corporation (NYSE PH) traded down 3.27% during midday trading on Thursday, reaching $155.76. The company’s stock had a trading volume of 1,662,527 shares. The stock has a 50-day moving average price of $162.51 and a 200-day moving average price of $157.98. Parker-Hannifin Corporation has a 52-week low of $118.77 and a 52-week high of $167.50. The stock has a market cap of $20.76 billion, a price-to-earnings ratio of 21.48 and a beta of 1.40.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.14. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 EPS. Equities research analysts anticipate that Parker-Hannifin Corporation will post $9.06 earnings per share for the current fiscal year.
In other Parker-Hannifin Corporation news, VP Martin C. Maxwell sold 2,850 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $160.08, for a total transaction of $456,228.00. Following the sale, the vice president now directly owns 21,968 shares in the company, valued at approximately $3,516,637.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $160.98, for a total value of $407,279.40. Following the sale, the vice president now owns 21,753 shares in the company, valued at $3,501,797.94. The disclosure for this sale can be found here. Corporate insiders own 2.73% of the company’s stock.
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About Parker-Hannifin Corporation
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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