Parker-Hannifin (NYSE:PH) had its target price reduced by Stifel Nicolaus from $179.00 to $164.00 in a research report report published on Monday morning, BenzingaRatingsTable reports. They currently have a hold rating on the industrial products company’s stock.
Other equities research analysts also recently issued research reports about the company. Bank of America set a $80.00 target price on Colgate-Palmolive and gave the stock a buy rating in a report on Friday, July 12th. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) target price on Diageo and gave the stock a neutral rating in a report on Wednesday, July 10th. Barclays lifted their target price on Stanley Black & Decker from $135.00 to $145.00 and gave the stock an overweight rating in a report on Wednesday, April 3rd. Wells Fargo & Co lifted their target price on Apollo Global Management from $38.00 to $42.00 and gave the stock an outperform rating in a report on Wednesday, July 10th. Finally, Citigroup lifted their target price on SolarWinds from $20.00 to $23.00 and gave the stock a buy rating in a report on Monday, May 6th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. Parker-Hannifin currently has an average rating of Hold and a consensus target price of $177.80.
Parker-Hannifin stock opened at $165.77 on Monday. 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 52 week low of $140.82 and a 52 week high of $193.19. The firm has a market capitalization of $21.37 billion, a P/E ratio of 15.91, a price-to-earnings-growth ratio of 1.55 and a beta of 1.55. The business’s 50-day moving average price is $165.80.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 EPS for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.16. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the previous year, the company posted $2.80 earnings per share. The company’s revenue was down 1.7% compared to the same quarter last year. On average, analysts expect that Parker-Hannifin will post 11.62 EPS for the current fiscal year.
In other Parker-Hannifin news, VP Robert W. Malone sold 336 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $156.76, for a total value of $52,671.36. Following the completion of the transaction, the vice president now directly owns 24,260 shares of the company’s stock, valued at $3,802,997.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.12% of the company’s stock.
Large investors have recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $357,950,000. Pennsylvania Trust Co raised its stake in shares of Parker-Hannifin by 29,994.5% during the 1st quarter. Pennsylvania Trust Co now owns 1,625,103 shares of the industrial products company’s stock worth $117,980,000 after buying an additional 1,619,703 shares during the period. Thoroughbred Financial Services LLC raised its stake in shares of Parker-Hannifin by 17,582.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 511,563 shares of the industrial products company’s stock worth $51,156,000 after buying an additional 508,670 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in shares of Parker-Hannifin by 52.6% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 596,840 shares of the industrial products company’s stock worth $102,434,000 after buying an additional 205,670 shares during the period. Finally, Scout Investments Inc. acquired a new position in shares of Parker-Hannifin during the 1st quarter worth approximately $33,768,000. 79.64% of the stock is owned by institutional investors.
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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