Parker-Hannifin (NYSE:PH) Downgraded by Wolfe Research to Peer Perform

Parker-Hannifin (NYSE:PH) was downgraded by investment analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports.

A number of other equities analysts also recently commented on PH. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Evercore ISI boosted their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Citigroup assumed coverage on shares of Parker-Hannifin in a research report on Friday, February 7th. They issued a “buy” rating and a $795.00 price objective on the stock. Barclays decreased their price objective on shares of Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Finally, Truist Financial increased their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Price Performance

Shares of PH opened at $630.09 on Thursday. The company has a market cap of $81.11 billion, a P/E ratio of 26.08, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin has a fifty-two week low of $492.71 and a fifty-two week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm’s 50 day moving average price is $654.89 and its 200 day moving average price is $655.17.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, research analysts forecast that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $1,106,132,000. Proficio Capital Partners LLC increased its holdings in shares of Parker-Hannifin by 116,370.3% in the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after purchasing an additional 1,139,265 shares during the period. Royal Bank of Canada lifted its holdings in shares of Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock worth $1,448,241,000 after purchasing an additional 1,137,564 shares during the period. State Street Corp raised its position in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after buying an additional 753,143 shares during the last quarter. Finally, Capital World Investors acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth $418,174,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

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.