Parker-Hannifin (NYSE:PH) Rating Lowered to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Parker-Hannifin from “Buy” to “Hold,” though the broader analyst consensus remains “Moderate Buy,” with 17 Buy ratings and four Holds.
• Parker-Hannifin reported stronger-than-expected quarterly results, posting $9.27 EPS versus an $8.31 estimate and $5.75 billion in revenue, up 9.8% year over year.
• The stock opened at $1,002.90, near its record range, while analysts’ consensus price target stood at $1,100; institutional investors own 82.44% of outstanding shares.

Parker-Hannifin (NYSE:PH - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other analysts have also recently issued reports on PH. BNP Paribas Exane reaffirmed an "outperform" rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. BMO Capital Markets restated an "outperform" rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Mizuho set a $1,050.00 price target on Parker-Hannifin in a report on Friday, May 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,100.00.

Parker-Hannifin Stock Performance

Shares of PH opened at $1,002.90 on Friday. The firm has a 50-day moving average of $984.42 and a 200-day moving average of $948.75. Parker-Hannifin has a one year low of $715.37 and a one year high of $1,099.94. The company has a market cap of $126.46 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 2.60 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same period in the prior year, the firm earned $7.69 EPS. Parker-Hannifin's quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities analysts forecast that Parker-Hannifin will post 34.93 earnings per share for the current year.

Institutional Trading of Parker-Hannifin

Institutional investors have recently modified their holdings of the stock. Fideuram Asset Management Ireland dac acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $1,253,000. Truist Financial Corp raised its holdings in shares of Parker-Hannifin by 2.7% during the 4th quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company's stock worth $153,687,000 after buying an additional 4,673 shares in the last quarter. Shepherd Street Advisors LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth $1,736,000. Jefferies Financial Group Inc. bought a new stake in shares of Parker-Hannifin during the 4th quarter worth $11,434,000. Finally, Horizon Investments LLC lifted its position in shares of Parker-Hannifin by 78.8% during the 4th quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company's stock worth $7,760,000 after buying an additional 3,892 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

About Parker-Hannifin

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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