Parker-Hannifin (NYSE:PH) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports.
A number of other equities research analysts also recently weighed in on PH. Wells Fargo & Co upped their target price on Apollo Global Management from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays upped their target price on Stanley Black & Decker from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Morgan Stanley upped their target price on Williams-Sonoma from $52.00 to $56.00 and gave the stock an “underweight” rating in a research report on Wednesday. Citigroup upped their target price on SolarWinds from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. set a GBX 3,200 ($41.81) target price on Diageo and gave the stock a “neutral” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the stock. Parker-Hannifin has an average rating of “Hold” and an average price target of $179.75.
PH opened at $169.07 on Friday. The firm has a market capitalization of $21.69 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.53 and a beta of 1.55. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.07. Parker-Hannifin has a 1-year low of $140.82 and a 1-year high of $193.19. The business has a 50 day moving average price of $164.49.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.16. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.72 billion. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.80 earnings per share. As a group, research analysts predict that Parker-Hannifin will post 11.63 earnings per share for the current fiscal year.
In other news, VP Robert W. Malone sold 336 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $156.76, for a total transaction of $52,671.36. Following the completion of the sale, the vice president now owns 24,260 shares in the company, valued at approximately $3,802,997.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.12% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in shares of Parker-Hannifin by 6.3% in the fourth quarter. Legal & General Group Plc now owns 653,420 shares of the industrial products company’s stock valued at $97,451,000 after purchasing an additional 38,840 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Parker-Hannifin in the first quarter valued at $309,000. Novare Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 3.2% in the first quarter. Novare Capital Management LLC now owns 3,527 shares of the industrial products company’s stock valued at $605,000 after purchasing an additional 110 shares in the last quarter. Teza Capital Management LLC purchased a new stake in shares of Parker-Hannifin in the first quarter valued at $702,000. Finally, Great West Life Assurance Co. Can lifted its holdings in shares of Parker-Hannifin by 87.4% in the first quarter. Great West Life Assurance Co. Can now owns 158,829 shares of the industrial products company’s stock valued at $27,188,000 after purchasing an additional 74,060 shares in the last quarter. Institutional investors own 79.64% of the company’s stock.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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