Parker-Hannifin (NYSE:PH) Rating Lowered to Hold at StockNews.com

Parker-Hannifin (NYSE:PH) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Several other brokerages have also commented on PH. Deutsche Bank Aktiengesellschaft increased their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Stifel Nicolaus lowered their price target on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Truist Financial reaffirmed a “buy” rating and set a $673.00 price objective (up from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.

Parker-Hannifin Trading Down 0.6 %

Shares of PH stock opened at $621.82 on Tuesday. Parker-Hannifin has a 52-week low of $362.49 and a 52-week high of $629.18. The business’s fifty day moving average is $573.84 and its 200 day moving average is $549.07. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The company has a market capitalization of $80.01 billion, a PE ratio of 29.30, a price-to-earnings-growth ratio of 2.51 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the previous year, the firm earned $6.08 earnings per share. Parker-Hannifin’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Parker-Hannifin will post 26.63 EPS for the current fiscal year.

Insider Activity at Parker-Hannifin

In other news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of PH. Fidelis Capital Partners LLC increased its stake in shares of Parker-Hannifin by 2.3% during the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 19 shares in the last quarter. Harbor Investment Advisory LLC raised its stake in Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after buying an additional 20 shares during the last quarter. GoalVest Advisory LLC boosted its holdings in Parker-Hannifin by 40.0% in the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 20 shares in the last quarter. American Trust grew its stake in shares of Parker-Hannifin by 3.2% in the first quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 20 shares during the last quarter. Finally, TFG Advisers LLC grew its stake in shares of Parker-Hannifin by 0.9% in the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock worth $1,098,000 after acquiring an additional 20 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

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 through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.