Parker-Hannifin (NYSE:PH) Downgraded to “Hold” at StockNews.com

Parker-Hannifin (NYSE:PH) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Several other analysts have also weighed in on the company. Wells Fargo & Company upped their target price on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Robert W. Baird raised their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Barclays reduced their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. TD Cowen lifted their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus reduced their target price on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.

Parker-Hannifin Price Performance

Shares of PH traded up $6.71 during trading hours on Tuesday, reaching $625.43. The company had a trading volume of 526,509 shares, compared to its average volume of 651,798. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. Parker-Hannifin has a 12-month low of $362.49 and a 12-month high of $627.59. The firm has a 50 day simple moving average of $573.84 and a 200-day simple moving average of $549.07. The company has a market capitalization of $80.39 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 2.42 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $6.08 earnings per share. Research analysts expect that Parker-Hannifin will post 26.63 earnings per share for the current year.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Parker-Hannifin

Large investors have recently modified their holdings of the stock. TD Asset Management Inc grew its stake in shares of Parker-Hannifin by 152.1% during the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after acquiring an additional 79,774 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Parker-Hannifin by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock valued at $12,761,000 after purchasing an additional 1,802 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $4,068,000. Concurrent Investment Advisors LLC grew its position in shares of Parker-Hannifin by 261.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after buying an additional 1,819 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. increased its stake in shares of Parker-Hannifin by 18.1% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 56,070 shares of the industrial products company’s stock worth $25,831,000 after buying an additional 8,600 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

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 Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.