Parker-Hannifin (NYSE:PH) Given New $176.00 Price Target at Stifel Nicolaus

Parker-Hannifin (NYSE:PH) had its price target boosted by Stifel Nicolaus from $164.00 to $176.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 4.03% from the stock’s previous close.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. downgraded shares of Parker-Hannifin from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $186.00 to $169.00 in a report on Wednesday, July 10th. Citigroup lifted their price objective on shares of Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Zacks Investment Research downgraded shares of Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 price objective on the stock. in a report on Wednesday, July 17th. Goldman Sachs Group downgraded shares of Parker-Hannifin from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $178.00 to $150.00 in a report on Tuesday, July 16th. Finally, Morgan Stanley boosted their target price on shares of Parker-Hannifin from $173.00 to $177.00 and gave the stock an “equal weight” rating in a report on Friday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Parker-Hannifin presently has a consensus rating of “Hold” and a consensus price target of $179.08.

PH traded down $3.68 during trading on Friday, reaching $169.18. The company had a trading volume of 697,208 shares, compared to its average volume of 869,368. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.56. Parker-Hannifin has a 12 month low of $140.82 and a 12 month high of $193.19. The company’s fifty day moving average price is $169.43. The stock has a market capitalization of $21.94 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.61 and a beta of 1.55.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 1st. The industrial products company reported $3.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.09 by $0.22. Parker-Hannifin had a net margin of 10.04% and a return on equity of 26.27%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the company earned $3.22 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, research analysts expect that Parker-Hannifin will post 11.62 EPS for the current fiscal year.

In other news, VP Robert W. Malone sold 336 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $156.76, for a total value of $52,671.36. Following the completion of the sale, the vice president now owns 24,260 shares of the company’s stock, valued at $3,802,997.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.12% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Ibex Wealth Advisors bought a new stake in shares of Parker-Hannifin in the second quarter valued at about $27,000. Trustcore Financial Services LLC bought a new stake in Parker-Hannifin during the first quarter worth about $34,000. Gemmer Asset Management LLC lifted its position in Parker-Hannifin by 162.3% during the first quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 125 shares during the period. TRUE Private Wealth Advisors bought a new stake in Parker-Hannifin during the second quarter worth about $34,000. Finally, HMS Capital Management LLC bought a new stake in Parker-Hannifin during the second quarter worth about $36,000. 79.81% of the stock is owned by institutional investors.

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 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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