Parker-Hannifin Corporation (NYSE:PH) Rating Reiterated by Jefferies Group LLC

Jefferies Group LLC restated their hold rating on shares of Parker-Hannifin Corporation (NYSE:PH) in a research report sent to investors on Thursday, August 3rd. They currently have a $163.00 price objective on the industrial products company’s stock.

A number of other research firms also recently issued reports on PH. Zacks Investment Research upgraded shares of Parker-Hannifin Corporation from a hold rating to a buy rating and set a $180.00 price objective for the company in a report on Monday, April 10th. Credit Suisse Group set a $189.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a buy rating in a report on Sunday, April 30th. BidaskClub downgraded shares of Parker-Hannifin Corporation from a buy rating to a hold rating in a report on Monday, July 24th. Stifel Nicolaus restated a buy rating and set a $176.00 price objective on shares of Parker-Hannifin Corporation in a report on Thursday, July 6th. Finally, J P Morgan Chase & Co set a $175.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a buy rating in a report on Thursday, May 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $168.69.

Shares of Parker-Hannifin Corporation (NYSE:PH) traded up 0.81% during mid-day trading on Thursday, hitting $157.02. 1,013,764 shares of the company traded hands. The firm has a 50-day moving average of $162.43 and a 200-day moving average of $158.07. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $167.50. The stock has a market capitalization of $20.93 billion, a price-to-earnings ratio of 21.66 and a beta of 1.40.

Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the company posted $1.90 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, equities analysts predict that Parker-Hannifin Corporation will post $9.06 earnings per share for the current year.

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In other news, VP John G. Dedinsky, Jr. sold 2,530 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $160.98, for a total value of $407,279.40. Following the completion of the transaction, the vice president now directly owns 21,753 shares in the company, valued at $3,501,797.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Martin C. Maxwell sold 2,850 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $160.08, for a total transaction of $456,228.00. Following the completion of the transaction, the vice president now owns 21,968 shares of the company’s stock, valued at $3,516,637.44. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. Moody Lynn & Lieberson LLC raised its stake in shares of Parker-Hannifin Corporation by 0.3% in the first quarter. Moody Lynn & Lieberson LLC now owns 3,043 shares of the industrial products company’s stock valued at $488,000 after buying an additional 10 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in shares of Parker-Hannifin Corporation by 1.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,306 shares of the industrial products company’s stock valued at $209,000 after buying an additional 15 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after buying an additional 24 shares during the last quarter. Calamos Wealth Management LLC raised its stake in shares of Parker-Hannifin Corporation by 0.4% in the second quarter. Calamos Wealth Management LLC now owns 8,144 shares of the industrial products company’s stock valued at $1,302,000 after buying an additional 34 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 80.17% of the company’s stock.

Parker-Hannifin Corporation Company Profile

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

Analyst Recommendations for Parker-Hannifin Corporation (NYSE:PH)

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