Parker-Hannifin (NYSE:PH) PT Lowered to $173.00 at Morgan Stanley

Parker-Hannifin (NYSE:PH) had its target price reduced by Morgan Stanley from $175.00 to $173.00 in a research note released on Wednesday, Stock Target Advisor reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other equities analysts have also weighed in on PH. Barclays lifted their price target on Stanley Black & Decker from $135.00 to $145.00 and gave the company an overweight rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) price target on Diageo and gave the company a neutral rating in a research note on Wednesday. Wells Fargo & Co lifted their price target on Apollo Global Management from $38.00 to $42.00 and gave the company an outperform rating in a research note on Wednesday. Stifel Nicolaus upgraded QUALCOMM from a hold rating to a buy rating and lifted their price target for the company from $57.00 to $100.00 in a research note on Tuesday, April 16th. Finally, Citigroup boosted their price objective on SolarWinds from $20.00 to $23.00 and gave the stock a buy rating in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $179.75.

Shares of Parker-Hannifin stock opened at $169.07 on Wednesday. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. Parker-Hannifin has a twelve month low of $140.82 and a twelve month high of $193.19. The company has a 50-day simple moving average of $164.49. The stock has a market cap of $21.69 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.53 and a beta of 1.55.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.16. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. The firm had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the business earned $2.80 EPS. Parker-Hannifin’s revenue for the quarter was down 1.7% compared to the same quarter last year. Sell-side analysts anticipate that Parker-Hannifin will post 11.63 earnings per share for the current fiscal year.

In other Parker-Hannifin news, VP Robert W. Malone sold 336 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $156.76, for a total transaction of $52,671.36. Following the completion of the sale, the vice president now directly owns 24,260 shares in the company, valued at approximately $3,802,997.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.12% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of PH. Dubuque Bank & Trust Co. grew its position in shares of Parker-Hannifin by 97.5% in the first quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 78 shares in the last quarter. Trustcore Financial Services LLC acquired a new position in Parker-Hannifin in the first quarter valued at approximately $34,000. Gemmer Asset Management LLC lifted its holdings in Parker-Hannifin by 162.3% in the first quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 125 shares during the last quarter. HMS Capital Management LLC acquired a new position in Parker-Hannifin in the second quarter valued at approximately $36,000. Finally, Captrust Financial Advisors lifted its holdings in Parker-Hannifin by 416.7% in the fourth quarter. Captrust Financial Advisors now owns 310 shares of the industrial products company’s stock valued at $46,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 79.64% 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 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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Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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