Parker-Hannifin (NYSE:PH) Lowered to Hold Rating by StockNews.com

Parker-Hannifin (NYSE:PH) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Other research analysts have also recently issued reports about the company. Argus boosted their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays lowered their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research note on Friday. Wolfe Research raised Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research note on Thursday, December 12th. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research note on Friday. Finally, Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an “overweight” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $725.06.

Parker-Hannifin Stock Up 0.6 %

NYSE PH opened at $707.91 on Friday. The business has a fifty day moving average price of $666.84 and a 200 day moving average price of $629.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The company has a market cap of $91.12 billion, a P/E ratio of 31.97, a P/E/G ratio of 2.73 and a beta of 1.45. Parker-Hannifin has a one year low of $463.16 and a one year high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Research analysts anticipate that Parker-Hannifin will post 26.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the company’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 completion of the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the transaction, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,200 shares of company stock worth $8,595,207 in the last quarter. 0.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Parker-Hannifin

Several large investors have recently modified their holdings of PH. B. Riley Wealth Advisors Inc. raised its holdings in Parker-Hannifin by 2.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 2,450 shares of the industrial products company’s stock worth $1,239,000 after purchasing an additional 64 shares in the last quarter. Clearbridge Investments LLC increased its position in Parker-Hannifin by 52.5% during the 2nd quarter. Clearbridge Investments LLC now owns 4,040 shares of the industrial products company’s stock worth $2,043,000 after purchasing an additional 1,390 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Parker-Hannifin during the 2nd quarter worth approximately $4,957,000. Centaurus Financial Inc. lifted its holdings in shares of Parker-Hannifin by 8.2% in the 2nd quarter. Centaurus Financial Inc. now owns 302 shares of the industrial products company’s stock valued at $153,000 after buying an additional 23 shares during the period. Finally, Czech National Bank boosted its stake in shares of Parker-Hannifin by 6.9% in the third quarter. Czech National Bank now owns 26,185 shares of the industrial products company’s stock valued at $16,544,000 after buying an additional 1,691 shares in the last quarter. Hedge funds and other 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.