Parker-Hannifin (NYSE:PH) Rating Lowered 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 issued on Wednesday.

Other equities research analysts also recently issued reports about the company. Wolfe Research upgraded Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research report on Thursday, December 12th. Wells Fargo & Company upped their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Evercore ISI lifted their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Barclays cut their price target on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Finally, Truist Financial lifted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Trading Down 0.9 %

NYSE:PH opened at $624.61 on Wednesday. The stock has a market cap of $80.40 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 2.85 and a beta of 1.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. Parker-Hannifin has a 1 year low of $492.71 and a 1 year high of $718.44. The business has a fifty day moving average of $660.75 and a 200-day moving average of $651.97.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Equities analysts predict that Parker-Hannifin will post 26.71 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. 111 Capital acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $667,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Parker-Hannifin by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,008 shares of the industrial products company’s stock valued at $17,814,000 after acquiring an additional 255 shares in the last quarter. Northstar Financial Companies Inc. purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $241,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth $69,000. Finally, Siemens Fonds Invest GmbH raised its holdings in shares of Parker-Hannifin by 581.1% during the fourth quarter. Siemens Fonds Invest GmbH now owns 11,068 shares of the industrial products company’s stock worth $7,040,000 after acquiring an additional 9,443 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

About Parker-Hannifin

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.