Trade Report: The Parker-Hannifin Corp. (PH) Receives $116.50 Average Target Price from Analysts

The Parker-Hannifin Corp. (PH) Receives $116.50 Average Target Price from Analysts

Shares of Parker-Hannifin Corp. (NYSE:PH) have received an average recommendation of “Hold” from the twenty analysts that are currently covering the firm. Two equities research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $118.29.

Several equities analysts have recently issued reports on the stock. Avondale Partners reissued a “market perform” rating on shares of Parker-Hannifin Corp. in a report on Monday. Goldman Sachs Group Inc. raised shares of Parker-Hannifin Corp. from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $106.00 to $120.00 in a report on Tuesday. Stifel Nicolaus raised shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $141.00 in a report on Wednesday, October 5th. Zacks Investment Research raised shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a report on Tuesday, October 4th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Parker-Hannifin Corp. in a report on Monday, September 12th.

Shares of Parker-Hannifin Corp. (NYSE:PH) opened at 123.93 on Monday. The stock has a market capitalization of $16.59 billion, a P/E ratio of 21.04 and a beta of 1.49. The stock’s 50 day moving average is $123.39 and its 200-day moving average is $116.03. Parker-Hannifin Corp. has a one year low of $83.32 and a one year high of $128.24.

Parker-Hannifin Corp. (NYSE:PH) last announced its quarterly earnings results on Thursday, August 4th. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.15. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. The company earned $2.96 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the company posted $1.73 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year. On average, equities research analysts expect that Parker-Hannifin Corp. will post $6.80 EPS for the current year.

In other news, VP Martin C. Maxwell sold 893 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $120.62, for a total value of $107,713.66. Following the transaction, the vice president now owns 39,451 shares in the company, valued at approximately $4,758,579.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert W. Bond sold 14,043 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $124.51, for a total value of $1,748,493.93. The disclosure for this sale can be found here. 2.73% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of PH. Vanguard Group Inc. boosted its stake in shares of Parker-Hannifin Corp. by 1.4% in the second quarter. Vanguard Group Inc. now owns 8,825,955 shares of the company’s stock valued at $953,645,000 after buying an additional 118,306 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Parker-Hannifin Corp. by 1.8% in the second quarter. BlackRock Fund Advisors now owns 2,092,606 shares of the company’s stock valued at $226,106,000 after buying an additional 37,187 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Parker-Hannifin Corp. by 40.0% in the second quarter. TIAA CREF Investment Management LLC now owns 1,498,918 shares of the company’s stock valued at $161,958,000 after buying an additional 428,032 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Parker-Hannifin Corp. by 25.6% in the second quarter. American Century Companies Inc. now owns 1,369,527 shares of the company’s stock valued at $147,977,000 after buying an additional 279,278 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its stake in shares of Parker-Hannifin Corp. by 4.7% in the third quarter. Beutel Goodman & Co Ltd. now owns 1,308,555 shares of the company’s stock valued at $125,229,000 after buying an additional 58,508 shares during the last quarter. Institutional investors own 80.75% of the company’s stock.

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