Bank of America Lowers Parker-Hannifin (NYSE:PH) to Neutral

Parker-Hannifin (NYSE:PH) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued on Friday, MarketBeat Ratings reports.

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

Shares of NYSE:PH opened at $169.07 on Friday. The firm has a market capitalization of $21.69 billion, a P/E ratio of 14.40, a P/E/G ratio of 1.53 and a beta of 1.55. The company has a 50-day simple moving average of $164.49. Parker-Hannifin has a 52-week low of $140.82 and a 52-week high of $193.19. 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 (NYSE:PH) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.01 by $0.16. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.72 billion. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $2.80 earnings per share. Research analysts predict that Parker-Hannifin will post 11.63 EPS for the current fiscal year.

In other Parker-Hannifin news, VP Robert W. Malone sold 336 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $156.76, for a total transaction of $52,671.36. Following the completion of the transaction, the vice president now owns 24,260 shares in the company, valued at $3,802,997.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.12% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Advisor Group Inc. lifted its stake in Parker-Hannifin by 13.8% during the 4th quarter. Advisor Group Inc. now owns 6,805 shares of the industrial products company’s stock worth $1,016,000 after acquiring an additional 823 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Parker-Hannifin by 23.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 683,224 shares of the industrial products company’s stock worth $101,897,000 after acquiring an additional 131,234 shares in the last quarter. Natixis Advisors L.P. acquired a new position in Parker-Hannifin during the 4th quarter worth about $1,600,000. Brown Advisory Inc. lifted its stake in Parker-Hannifin by 12.1% during the 4th quarter. Brown Advisory Inc. now owns 83,327 shares of the industrial products company’s stock worth $12,427,000 after acquiring an additional 9,025 shares in the last quarter. Finally, Kinneret Advisory LLC acquired a new position in Parker-Hannifin during the 4th quarter worth about $235,000. Hedge funds and other institutional investors own 79.64% of the company’s stock.

About Parker-Hannifin

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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