Parker-Hannifin (PH) Earns Sell Rating from Analysts at Gordon Haskett
Gordon Haskett started coverage on shares of Parker-Hannifin (NYSE:PH) in a research report released on Friday, MarketBeat.com reports. The brokerage issued a sell rating on the industrial products company’s stock.
A number of other research firms also recently commented on PH. Cowen reaffirmed a hold rating and set a $165.00 price objective on shares of Parker-Hannifin in a report on Friday, July 20th. Goldman Sachs Group downgraded shares of Parker-Hannifin from a buy rating to a neutral rating and set a $164.00 price objective for the company. in a report on Monday, July 16th. Morgan Stanley started coverage on shares of Parker-Hannifin in a report on Monday, August 20th. They set an equal weight rating and a $185.00 price objective for the company. Wolfe Research started coverage on shares of Parker-Hannifin in a report on Wednesday, June 27th. They set a market perform rating for the company. Finally, Evercore ISI raised shares of Parker-Hannifin from an in-line rating to an outperform rating in a report on Monday, August 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have assigned a buy rating to the company. Parker-Hannifin presently has a consensus rating of Hold and a consensus price target of $189.89.
Shares of NYSE:PH traded up $1.70 during midday trading on Friday, reaching $167.30. 1,130,245 shares of the company’s stock were exchanged, compared to its average volume of 1,140,054. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.43 and a beta of 1.41. Parker-Hannifin has a 12 month low of $152.47 and a 12 month high of $212.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.59.
The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Tuesday, August 28th were issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.82%. The ex-dividend date was Monday, August 27th. Parker-Hannifin’s dividend payout ratio is currently 29.17%.
In other Parker-Hannifin news, VP Joseph R. Leonti sold 1,605 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $176.56, for a total value of $283,378.80. Following the completion of the transaction, the vice president now directly owns 15,731 shares of the company’s stock, valued at $2,777,465.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP William R. Bowman sold 2,400 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $175.36, for a total transaction of $420,864.00. Following the completion of the transaction, the vice president now directly owns 1,325 shares of the company’s stock, valued at $232,352. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Parker-Hannifin by 5,815.4% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock worth $120,000 after acquiring an additional 756 shares during the last quarter. Private Capital Group LLC raised its stake in shares of Parker-Hannifin by 272.2% in the first quarter. Private Capital Group LLC now owns 882 shares of the industrial products company’s stock worth $151,000 after acquiring an additional 645 shares during the last quarter. Manchester Capital Management LLC raised its stake in shares of Parker-Hannifin by 55.9% in the second quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock worth $152,000 after acquiring an additional 350 shares during the last quarter. Signaturefd LLC raised its stake in shares of Parker-Hannifin by 48.3% in the second quarter. Signaturefd LLC now owns 1,108 shares of the industrial products company’s stock worth $173,000 after acquiring an additional 361 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Parker-Hannifin in the second quarter worth about $202,000. 79.53% of the stock is owned by 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 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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