Parker-Hannifin (NYSE:PH) Stock Rating Lowered by Stifel Nicolaus

Parker-Hannifin (NYSE:PH) was downgraded by Stifel Nicolaus from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, MarketBeat reports. They presently have a $691.00 target price on the industrial products company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 0.21% from the stock’s current price.

A number of other research firms have also recently issued reports on PH. Barclays lifted their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Evercore ISI boosted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. KeyCorp raised their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Truist Financial boosted their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, TD Cowen raised their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $688.07.

Parker-Hannifin Trading Down 0.3 %

NYSE:PH opened at $689.56 on Monday. The stock has a market cap of $88.76 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. Parker-Hannifin has a fifty-two week low of $426.49 and a fifty-two week high of $711.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The stock’s 50-day moving average is $640.59 and its two-hundred day moving average is $577.60.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the firm posted $5.96 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Parker-Hannifin will post 26.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now directly owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,927 shares of company stock valued at $12,807,811 in the last ninety days. Company insiders own 0.39% of the company’s stock.

Institutional Trading of Parker-Hannifin

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its holdings in Parker-Hannifin by 458.1% during the first quarter. Acadian Asset Management LLC now owns 3,354 shares of the industrial products company’s stock valued at $1,862,000 after purchasing an additional 2,753 shares in the last quarter. Edgestream Partners L.P. grew its position in Parker-Hannifin by 40.9% in the first quarter. Edgestream Partners L.P. now owns 981 shares of the industrial products company’s stock valued at $545,000 after acquiring an additional 285 shares during the period. Clearbridge Investments LLC raised its stake in Parker-Hannifin by 32.4% during the first quarter. Clearbridge Investments LLC now owns 2,650 shares of the industrial products company’s stock worth $1,473,000 after acquiring an additional 649 shares in the last quarter. UniSuper Management Pty Ltd boosted its stake in shares of Parker-Hannifin by 198.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,441 shares of the industrial products company’s stock valued at $1,912,000 after purchasing an additional 2,289 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Parker-Hannifin by 162.6% in the 1st quarter. Bessemer Group Inc. now owns 10,109 shares of the industrial products company’s stock valued at $5,617,000 after purchasing an additional 6,260 shares in the last quarter. Institutional investors 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.