Parker-Hannifin (NYSE:PH) Downgraded by StockNews.com to "Hold"

Parker-Hannifin (NYSE:PH - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Friday.

Several other equities analysts have also recently commented on the company. Robert W. Baird boosted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Jefferies Financial Group upped their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Mizuho raised their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday. Finally, KeyCorp raised their price objective on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research report on Friday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus price target of $725.06.

Parker-Hannifin Price Performance

Shares of PH traded down $5.56 during midday trading on Friday, hitting $690.21. 527,938 shares of the company traded hands, compared to its average volume of 669,247. Parker-Hannifin has a one year low of $492.71 and a one year high of $718.44. The firm has a market cap of $88.84 billion, a P/E ratio of 28.57, a PEG ratio of 2.90 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a 50-day moving average of $666.68 and a 200-day moving average of $631.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. As a group, sell-side analysts predict that Parker-Hannifin will post 26.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 approximately $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares of the company's stock, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,200 shares of company stock valued at $8,595,207 in the last quarter. Insiders own 0.39% of the company's stock.

Institutional Trading of Parker-Hannifin

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp raised its position in shares of Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock worth $3,918,696,000 after acquiring an additional 753,143 shares in the last quarter. FMR LLC grew its stake in Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock worth $2,600,733,000 after purchasing an additional 272,531 shares during the period. Geode Capital Management LLC raised its holdings in Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company's stock worth $1,623,689,000 after purchasing an additional 29,408 shares in the last quarter. Wellington Management Group LLP lifted its position in Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock valued at $1,249,645,000 after buying an additional 564,365 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Parker-Hannifin by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company's stock worth $1,007,102,000 after buying an additional 59,432 shares during the period. 82.44% of the stock is currently owned by hedge funds and other 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 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.