Weekly Investment Analysts’ Ratings Changes for Parker-Hannifin (PH)

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Parker-Hannifin (NYSE: PH) has recently received a number of price target changes and ratings updates:

  • 11/6/2018 – Parker-Hannifin was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 11/5/2018 – Parker-Hannifin had its price target lowered by analysts at Morgan Stanley from $187.00 to $179.00. They now have a “hold” rating on the stock.
  • 11/2/2018 – Parker-Hannifin was upgraded by analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating. They now have a $193.00 price target on the stock.
  • 11/2/2018 – Parker-Hannifin had its price target lowered by analysts at Citigroup Inc from $185.00 to $178.00. They now have a “neutral” rating on the stock.
  • 10/18/2018 – Parker-Hannifin was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Over the past month, Parker-Hannifin's shares have underperformed the industry. The company reported mixed results for fourth-quarter fiscal 2018. Rising cost of sales, as well as ongoing business-realignment expenses might dampen its profitability, going forward. However, the company is poised to drive its near-term revenue growth on the back of robust end-market demand. Also, its Win Strategy and realignment efforts are expected to boost the bottom-line performance in the quarters ahead. Over the past 30 days, earnings estimates on the stock have been revised upward for both fiscal 2019 and fiscal 2020.”
  • 10/17/2018 – Parker-Hannifin was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/16/2018 – Parker-Hannifin was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $187.00 price target on the stock. According to Zacks, “Over the past three months, Parker-Hannifin’s shares have outperformed the industry. The company is poised to drive its near-term revenue growth on the back of robust end-market demand. On the other hand, strong top line performance, ongoing Win Strategy, realignment and simplification efforts, as well as lower corporate tax rates are expected to drive Parker-Hannifin’s bottom line growth trajectory in the quarters ahead. The company currently anticipates generating adjusted earnings of $10.70-$11.50 per share in fiscal 2019, higher than $10.42 per share reported in fiscal 2018. Parker-Hannifin’s also remains on track to boost up its shareholders’ returns over time. Over the last 30 days, Zacks Consensus Estimate for the company’s earnings has been revised upward for fiscals 2019 and 2020.”
  • 10/15/2018 – Parker-Hannifin was downgraded by analysts at Cowen Inc from a “market perform” rating to an “underperform” rating.
  • 10/12/2018 – Parker-Hannifin is now covered by analysts at Gordon Haskett. They set a “sell” rating on the stock.
  • 9/28/2018 – Parker-Hannifin had its price target raised by analysts at Deutsche Bank AG from $176.00 to $184.00. They now have a “hold” rating on the stock.
  • 9/27/2018 – Parker-Hannifin had its price target raised by analysts at Wells Fargo & Co from $185.00 to $193.00. They now have a “market perform” rating on the stock.
  • 9/24/2018 – Parker-Hannifin had its price target raised by analysts at Stifel Nicolaus from $200.00 to $212.00. They now have a “buy” rating on the stock.
  • 9/14/2018 – Parker-Hannifin was upgraded by analysts at Buckingham Research from a “neutral” rating to a “buy” rating.

NYSE:PH opened at $167.17 on Wednesday. Parker-Hannifin Corp has a 52 week low of $143.00 and a 52 week high of $212.80. The company has a market capitalization of $21.41 billion, a P/E ratio of 16.04, a PEG ratio of 1.25 and a beta of 1.52. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.60.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, November 1st. The industrial products company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.31. Parker-Hannifin had a return on equity of 25.49% and a net margin of 7.98%. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the prior year, the company posted $2.24 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts anticipate that Parker-Hannifin Corp will post 11.49 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be issued a $0.76 dividend. The ex-dividend date is Thursday, November 8th. This represents a $3.04 dividend on an annualized basis and a yield of 1.82%. Parker-Hannifin’s dividend payout ratio is currently 29.17%.

In related news, VP Joseph R. Leonti sold 1,605 shares of the stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total value of $283,378.80. Following the transaction, the vice president now owns 15,731 shares in the company, valued at $2,777,465.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP William R. Bowman sold 2,400 shares of the stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $175.36, for a total value of $420,864.00. Following the completion of the transaction, the vice president now owns 1,325 shares in the company, valued at approximately $232,352. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its position in Parker-Hannifin by 50.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,026 shares of the industrial products company’s stock worth $316,000 after purchasing an additional 682 shares during the period. Commonwealth Bank of Australia boosted its position in Parker-Hannifin by 2.7% during the second quarter. Commonwealth Bank of Australia now owns 13,810 shares of the industrial products company’s stock worth $2,146,000 after purchasing an additional 361 shares during the period. Northern Trust Corp boosted its position in Parker-Hannifin by 1.0% during the second quarter. Northern Trust Corp now owns 1,646,375 shares of the industrial products company’s stock worth $256,588,000 after purchasing an additional 16,377 shares during the period. Investec Asset Management LTD boosted its position in Parker-Hannifin by 40.8% during the second quarter. Investec Asset Management LTD now owns 824,658 shares of the industrial products company’s stock worth $128,523,000 after purchasing an additional 238,927 shares during the period. Finally, Armbruster Capital Management Inc. boosted its position in Parker-Hannifin by 34.6% during the second quarter. Armbruster Capital Management Inc. now owns 1,362 shares of the industrial products company’s stock worth $212,000 after purchasing an additional 350 shares during the period. 79.34% of the stock is owned by hedge funds and other institutional investors.

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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