StockNews.com Downgrades Parker-Hannifin (NYSE:PH) to Hold

Parker-Hannifin (NYSE:PH) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

PH has been the subject of a number of other research reports. Truist Financial lifted their price objective on shares of Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a report on Friday, January 31st. UBS Group lowered their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Evercore ISI upped their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Trading Up 2.2 %

Shares of Parker-Hannifin stock traded up $13.53 on Wednesday, reaching $629.93. The company had a trading volume of 814,284 shares, compared to its average volume of 639,119. The firm’s 50 day moving average price is $661.07 and its two-hundred day moving average price is $652.16. The firm has a market cap of $81.08 billion, a PE ratio of 26.07, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin has a 52-week low of $492.71 and a 52-week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. Sell-side analysts predict that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Parker-Hannifin

A number of large investors have recently bought and sold shares of the company. 111 Capital purchased a new position in Parker-Hannifin during the 4th quarter worth $667,000. Wealth Enhancement Advisory Services LLC raised its position in Parker-Hannifin by 0.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 28,008 shares of the industrial products company’s stock worth $17,814,000 after buying an additional 255 shares during the last quarter. Northstar Financial Companies Inc. purchased a new position in Parker-Hannifin during the 4th quarter worth $241,000. Wood Tarver Financial Group LLC purchased a new position in Parker-Hannifin during the 4th quarter worth $69,000. Finally, Siemens Fonds Invest GmbH raised its position in Parker-Hannifin by 581.1% during the 4th quarter. Siemens Fonds Invest GmbH now owns 11,068 shares of the industrial products company’s stock worth $7,040,000 after buying an additional 9,443 shares during the last quarter. Hedge funds and other institutional investors own 82.44% 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 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.