Several analysts have recently updated their ratings and price targets for Parker-Hannifin Corporation (NYSE: PH):

  • 8/10/2017 – Parker-Hannifin Corporation was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 8/9/2017 – Parker-Hannifin Corporation had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $165.00 price target on the stock, up previously from $163.00.
  • 8/8/2017 – Parker-Hannifin Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Parker-Hannifin kept its earnings beat streak alive for the eighth consecutive quarter, as its fourth-quarter fiscal 2017 earnings trumped estimates by 6.1%. Going forward, Parker-Hannifin expects to gain traction from improving demand, incremental savings from its realignment actions and its revamped Win Strategy. The company hopes to deliver a growth rate of 8% in earnings, over the next five years. Further, it has made two strategic acquisitions — CLARCOR and Helac Corp., which will boost its filtration and Hydraulics businesses respectively. However, on the flip side, prolonged sluggishness in the natural resources market, particularly oil and gas and agriculture, as well as softness in business jet markets are proving to be major concerns. In addition, strengthening of the U.S. dollar and escalating restructuring charges are expected to hurt the company’s financials in the near term.”
  • 8/4/2017 – Parker-Hannifin Corporation was given a new $198.00 price target on by analysts at Stifel Nicolaus. They now have a “buy” rating on the stock.
  • 8/3/2017 – Parker-Hannifin Corporation had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $163.00 price target on the stock.
  • 7/24/2017 – Parker-Hannifin Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/14/2017 – Parker-Hannifin Corporation had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $189.00 price target on the stock.
  • 7/11/2017 – Parker-Hannifin Corporation is now covered by analysts at Wolfe Research. They set an “outperform” rating and a $182.00 price target on the stock.
  • 7/6/2017 – Parker-Hannifin Corporation had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $176.00 price target on the stock.
  • 6/28/2017 – Parker-Hannifin Corporation was given a new $163.00 price target on by analysts at Jefferies Group LLC. They now have a “hold” rating on the stock.
  • 6/21/2017 – Parker-Hannifin Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/14/2017 – Parker-Hannifin Corporation was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.

Shares of Parker-Hannifin Corporation (PH) opened at 155.76 on Friday. The company’s 50 day moving average price is $162.45 and its 200-day moving average price is $157.96. The company has a market capitalization of $20.76 billion, a price-to-earnings ratio of 21.48 and a beta of 1.40. Parker-Hannifin Corporation has a 52 week low of $118.77 and a 52 week high of $167.50.

Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates 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 revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 earnings per share. Analysts anticipate that Parker-Hannifin Corporation will post $9.06 earnings per share for the current fiscal year.

In related news, VP Martin C. Maxwell sold 2,850 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $160.08, for a total value of $456,228.00. Following the completion of the transaction, the vice president now directly owns 21,968 shares in the company, valued at $3,516,637.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total value of $407,279.40. Following the completion of the transaction, the vice president now owns 21,753 shares of the company’s stock, 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.

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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