Parker-Hannifin (NYSE:PH) Stock Rating Lowered by StockNews.com

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

Other equities research analysts have also recently issued research reports about the company. Wells Fargo & Company increased their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Evercore ISI raised their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a research note on Wednesday, February 19th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price for the company in a research report on Thursday, December 12th. UBS Group lowered their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, Stifel Nicolaus boosted their price objective on Parker-Hannifin from $689.00 to $691.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $736.65.

Parker-Hannifin Stock Performance

Shares of PH opened at $624.61 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. Parker-Hannifin has a 12 month low of $492.71 and a 12 month high of $718.44. The company’s fifty day moving average is $660.75 and its 200-day moving average is $651.97. The firm has a market cap of $80.40 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 2.85 and a beta of 1.50.

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

Hedge Funds Weigh In On Parker-Hannifin

Institutional investors have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parker-Hannifin in the fourth quarter valued at about $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at about $30,000. Mpwm Advisory Solutions LLC acquired a new position in Parker-Hannifin during the 4th quarter worth about $32,000. Finally, Prestige Wealth Management Group LLC grew its holdings in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

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.