Parker-Hannifin (NYSE:PH - Get Rating) had its price objective reduced by investment analysts at Wells Fargo & Company from $334.00 to $301.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price target would suggest a potential upside of 20.40% from the company's previous close.
Several other equities analysts also recently commented on PH. Stifel Nicolaus dropped their target price on Parker-Hannifin from $384.00 to $338.00 and set a "buy" rating for the company in a research report on Monday, April 18th. Mizuho decreased their target price on Parker-Hannifin from $305.00 to $290.00 in a research note on Friday, May 6th. StockNews.com began coverage on Parker-Hannifin in a research note on Thursday, March 31st. They issued a "buy" rating for the company. The Goldman Sachs Group reduced their price objective on Parker-Hannifin from $346.00 to $287.00 and set a "buy" rating for the company in a research note on Thursday, June 23rd. Finally, Barclays reduced their price objective on Parker-Hannifin from $376.00 to $350.00 and set an "overweight" rating for the company in a research note on Monday, April 4th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $348.31.
PH opened at $250.00 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.52 and a quick ratio of 1.09. The business has a fifty day simple moving average of $266.00 and a 200 day simple moving average of $287.88. Parker-Hannifin has a 1 year low of $230.44 and a 1 year high of $340.00. The company has a market capitalization of $32.09 billion, a PE ratio of 19.33, a price-to-earnings-growth ratio of 1.54 and a beta of 1.57.
Parker-Hannifin (NYSE:PH - Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The industrial products company reported $4.83 EPS for the quarter, beating analysts' consensus estimates of $4.61 by $0.22. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.07 billion. Parker-Hannifin had a return on equity of 27.07% and a net margin of 10.82%. The company's revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.11 EPS. Equities analysts anticipate that Parker-Hannifin will post 18.23 earnings per share for the current fiscal year.
In other Parker-Hannifin news, Director James L. Wainscott purchased 1,000 shares of the company's stock in a transaction that occurred on Monday, May 9th. The shares were acquired at an average cost of $273.44 per share, for a total transaction of $273,440.00. Following the completion of the acquisition, the director now owns 18,280 shares of the company's stock, valued at approximately $4,998,483.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James L. Wainscott purchased 2,000 shares of the company's stock in a transaction that occurred on Friday, May 6th. The shares were acquired at an average price of $267.78 per share, for a total transaction of $535,560.00. Following the completion of the acquisition, the director now directly owns 17,280 shares of the company's stock, valued at approximately $4,627,238.40. The disclosure for this purchase can be found here. 1.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of PH. Country Trust Bank purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $27,000. Farmers & Merchants Investments Inc. grew its position in shares of Parker-Hannifin by 48.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 111 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 36 shares in the last quarter. Equitec Proprietary Markets LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $35,000. Cyrus J. Lawrence LLC purchased a new position in shares of Parker-Hannifin in the first quarter valued at $35,000. Finally, FinTrust Capital Advisors LLC purchased a new position in Parker-Hannifin during the first quarter worth about $35,000. Hedge funds and other institutional investors own 80.55% of the company's stock.
About Parker-Hannifin (Get Rating)
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments, Diversified Industrial and Aerospace Systems. The Company's Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; 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; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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