Parker-Hannifin (NYSE:PH) Lowered to "Hold" Rating by Stifel Nicolaus

Parker-Hannifin (NYSE:PH - Get Free Report) was downgraded by analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have a $691.00 price target on the industrial products company's stock. Stifel Nicolaus' target price points to a potential downside of 0.10% from the company's current price.

A number of other brokerages also recently issued reports on PH. StockNews.com raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Argus boosted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Mizuho raised their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. UBS Group initiated coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They set a "buy" rating and a $842.00 price objective on the stock. Finally, KeyCorp boosted their price target on Parker-Hannifin from $640.00 to $725.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus price target of $688.07.

Parker-Hannifin Price Performance

Shares of PH traded down $7.23 during mid-day trading on Monday, reaching $691.68. The company had a trading volume of 386,376 shares, compared to its average volume of 644,229. The company has a market capitalization of $89.03 billion, a price-to-earnings ratio of 31.57, a P/E/G ratio of 2.82 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin has a 1-year low of $426.49 and a 1-year high of $711.60. The company's 50 day simple moving average is $636.19 and its 200 day simple moving average is $575.38.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the business posted $5.96 EPS. The company's revenue for the quarter was up 1.2% on a year-over-year basis. Analysts expect that Parker-Hannifin will post 26.77 EPS for the current year.

Insider Activity at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares of the company's stock, valued at $23,682,516.83. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,927 shares of company stock valued at $12,807,811 over the last ninety days. 0.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Parker-Hannifin

Hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp grew its holdings in Parker-Hannifin by 13.8% during the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock worth $3,918,696,000 after buying an additional 753,143 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Parker-Hannifin by 64,081.5% during the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company's stock valued at $241,279,000 after buying an additional 381,285 shares during the last quarter. World Investment Advisors LLC bought a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $226,570,000. Finally, Mizuho Securities USA LLC grew its position in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company's stock valued at $229,541,000 after purchasing an additional 353,393 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

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 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.