Parker-Hannifin (NYSE:PH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, January 4th.

According to Zacks, “Parker-Hannifin’s shares have outperformed the industry’s average, over the past one year. Parker-Hannifin has a robust earnings surprise history, with consecutive earnings beats in the four trailing quarters. Going forward, the company expects to gain traction from improving demand, incremental savings from its realignment actions and its revamped Win Strategy. The company anticipates that its revamped Win strategy will help deliver growth rate of 8% in earnings, over the next five years. However, prolonged sluggishness in the key natural resources markets is proving to be one of the major concerns for the company. Moreover, strengthening of the U.S. dollar and escalating restructuring charges are expected to hurt the company’s financials. This apart, changes in business relationships and purchase pattern of major customers, suppliers or distributors pose a significant challenge.”

Several other brokerages have also issued reports on PH. BMO Capital Markets boosted their target price on Parker-Hannifin to $225.00 and gave the company an “outperform” rating in a research note on Thursday, January 4th. ValuEngine lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Buckingham Research boosted their price objective on Parker-Hannifin from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Credit Suisse Group boosted their price objective on Parker-Hannifin from $205.00 to $206.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Finally, Robert W. Baird boosted their price objective on Parker-Hannifin from $183.00 to $194.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. Parker-Hannifin presently has an average rating of “Buy” and a consensus price target of $198.21.

Shares of Parker-Hannifin (PH) traded down $2.45 on Thursday, hitting $204.02. The company’s stock had a trading volume of 285,310 shares, compared to its average volume of 842,381. The company has a market capitalization of $27,932.18, a price-to-earnings ratio of 26.25, a PEG ratio of 1.85 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44. Parker-Hannifin has a 52-week low of $144.82 and a 52-week high of $212.80.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The business’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.61 earnings per share. equities analysts forecast that Parker-Hannifin will post 9.75 EPS for the current year.

In related news, VP Andrew D. Ross sold 2,056 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $192.14, for a total transaction of $395,039.84. Following the completion of the transaction, the vice president now directly owns 5,207 shares in the company, valued at $1,000,472.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Joseph R. Leonti sold 5,279 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $179.07, for a total value of $945,310.53. Following the transaction, the vice president now owns 8,032 shares of the company’s stock, valued at $1,438,290.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,495 shares of company stock valued at $4,127,941. 1.12% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Parker-Hannifin by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after purchasing an additional 90,732 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Parker-Hannifin by 3.6% in the 2nd quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock worth $1,352,775,000 after purchasing an additional 298,047 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Parker-Hannifin by 10.2% in the 4th quarter. Jennison Associates LLC now owns 5,650,607 shares of the industrial products company’s stock worth $1,127,748,000 after purchasing an additional 522,942 shares in the last quarter. Longview Partners Guernsey LTD boosted its holdings in shares of Parker-Hannifin by 5.4% in the 3rd quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock worth $947,463,000 after purchasing an additional 278,500 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Parker-Hannifin by 10.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock worth $336,317,000 after purchasing an additional 194,858 shares in the last quarter. Hedge funds and other institutional investors own 78.27% of the company’s stock.

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About Parker-Hannifin

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

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