Parker-Hannifin (NYSE:PH – Get Note) saw its price target reduced by Mizuho from $305.00 to $290.00 in a report on Friday, reports The Fly. Mizuho’s price target indicates a potential upside of 5.01% from the company’s previous close.
Other equity research analysts have also published reports on the company. StockNews.com began covering Parker-Hannifin in a research report on Thursday, March 31. They set a “buy” rating for the company. Barclays cut its price target on Parker-Hannifin from $376.00 to $350.00 and set an “overweight” rating for the company in a Monday, April 4 research report. Stifel Nicolaus cut his price target on Parker-Hannifin from $384.00 to $338.00 and set a “buy” rating for the company in a Monday, April 18 research report. Deutsche Bank Aktiengesellschaft cut its price target on Parker-Hannifin from $343.00 to $335.00 and set a “hold” rating for the company in a Thursday, April 14 research report. Finally, Jefferies Financial Group reduced its price target on Parker-Hannifin from $380.00 to $350.00 and set a “buy” rating for the company in a Friday, March 4 research report. Four equity research analysts gave the stock a hold rating and twelve gave the company a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $356.71.
PH shares opened at $276.16 on Friday. Parker-Hannifin has a 52-week low of $265.42 and a 52-week high of $340.00. The company has a debt ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.50. The company has a market capitalization of $35.48 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.69 and a beta of 1.57. The stock has a 50-day moving average price of $281.23 and a 200-day moving average price of $301.88.
Parker-Hannifin Inc (NYSE:PH – Get Rating) last released its quarterly results on Thursday, May 5. The industrial products company reported earnings per share (EPS) of $4.83 for the quarter, beating analysts’ consensus estimate of $4.65 by $0.18. Parker-Hannifin had a return on equity of 27.26% and a net margin of 11.87%. The company posted revenue of $4.09 billion in the quarter, versus analyst estimates of $4.07 billion. During the same period last year, the company achieved EPS of $4.11. Parker-Hannifin’s quarterly revenue increased 9.1% compared to the same quarter last year. As a group, sell-side analysts expect Parker-Hannifin to post EPS of 18.15 for the current year.
A number of hedge funds have recently changed their positions in the stock. State Street Corp increased its stake in Parker-Hannifin by 1.4% in the fourth quarter. State Street Corp now owns 6,191,510 shares of the industrial products company worth $1,969,643,000 after buying 88,326 more shares in the last quarter. JPMorgan Chase & Co. strengthened its position in Parker-Hannifin by 2.6% in the 4th quarter. JPMorgan Chase & Co. now owns 5,226,773 shares of the industrial products company worth $1,662,740,000 after acquiring an additional 130,530 shares during the period. Viking Global Investors LP increased its position in Parker-Hannifin by 365.6% during the third quarter. Viking Global Investors LP now owns 3,101,255 shares of the industrial products company worth $867,173,000 after acquiring an additional 2,435,138 shares during the period. Geode Capital Management LLC strengthened its position in Parker-Hannifin by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 2,351,599 shares of the industrial products company worth $746,079,000 after acquiring an additional 105,181 shares during the period. Finally, Norges Bank acquired a new stake in Parker-Hannifin during the 4th quarter for a value of approximately $720,070,000. Hedge funds and other institutional investors hold 80.55% of the company’s shares.
Parker-Hannifin Company Profile (Get an assessment)
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 Systems and Aerospace. The company’s diverse industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, noise, vibration and harshness solutions; diagnostic filters, systems and solutions to monitor and remove contaminants from fuel, air, oil, water and other liquids and gases; the connectors, which control, transmit and contain the fluid; control solutions for extreme corrosion resistance, precise temperatures, pressures and flow; and hydraulic, pneumatic and electromechanical components and systems for manufacturers and users of mobile and industrial machinery and equipment.
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