In a research note published on Friday, analysts from Mizuho raised their price objective for Parker Hannifin (NYSE: PH) from $300 to $310.00. The information was obtained from The Fly. According to the price objective determined by Mizuho, the stock may have the potential to experience a decrease of 1.64% from its most recent level.
On numerous occasions, additional research studies on PH have been published in academic journals. In a report made public on September 29, Deutsche Bank Aktiengesellschaft lowered the “hold” rating and price objective that it had previously assigned to Parker-Hannifin shares to $282.00 and $297.00, respectively. This news came as part of an announcement that the company would publish. In a research note published on Friday, November 4, by StockNews.com, the company rated Parker-Stockton Hannifin as a “hold” instead of recommending that investors “buy” the company’s stock. This rating indicates that the company does not believe investors should “buy” the company’s stock. Parker’s rating for the company, which was assigned to Hannifin, was raised from “c+” to “b” in a research note published on Thursday, November 3. The rating was assigned to the company. In a research note released on Tuesday, October 11, Stifel Nicolaus said they would lower their price target for Parker Hannifin shares from $325.00 to $280.00. The announcement was made about the price target was published on Tuesday. Morgan Stanley published a research note on January 6 announcing it would begin covering Parker Hannifin shares. The announcement was made in the context of the research note. The price target for the stock has been set at $311.00, and it has been given the rating of “equal weight.” Seven market analysts have assigned the company a buy rating, while six have suggested that shareholders maintain their current holdings of the company’s stock. According to information from Bloomberg.com, the current consensus rating for Parker Hannifin is “Moderate Buy,” The website also reports that the average price objective for the company is $321.45.
On Friday, shares of NYSE: PH started trading at $315.18 each when the market opened. The ratio of current liabilities to current assets is 1.30, while the ratio of quick assets to current liabilities is 0.73. The ratio of debt to equity is 1.40. One-year-old Parker Hannifin reached an all-time high of $360.00 and an all-time low of $230.44 during its trading history. The company’s moving averages for the past 50 days are currently at $298.16, and the moving average for the past 200 days is currently at $279.11. A beta of 1.52, a P/E ratio of 32.80, a PEG ratio of 1.37, and a PEG ratio of 1.37 are all characteristics of the company. Its current market capitalization is sitting at $40.47 billion at this very moment.
On November 3, Parker-Hannifin released their most recent quarterly earnings report for the company, which was listed on the New York Stock Exchange under the ticker NYSE: PH. The maker of products for the industrial sector reported earnings per share of $4.74, which was $0.59 higher than the group of analysts had predicted. Parker Hannifin had a return on equity of 28.26% and a net margin of 7.67%. Both of these figures are percentages. The company’s sales for the quarter came in at $4.23 billion, which is significantly higher than the consensus estimate of $3.95 billion by industry analysts. The company had a profit per share of $4.26 during the same period the year before when the same period was compared. Compared to the same period in the previous year, the revenue for the current quarter saw a 12.4% increase. The analysts who conduct equity research forecast that Parker-Hannifin will generate earnings of 19.11 cents per share this year.
In recent times, institutional investors have been engaged in purchasing and selling shares in various companies. During the second quarter, Brinker Capital Investments LLC made a 39.1% purchase of additional Parker Hannifin stock, bringing the total amount of the company’s ownership in that company to 100%. Brinker Capital Investments LLC now holds 3,694 shares of the industrial products company’s stock, which are currently valued at $909,000. This is a result of the acquisition of an additional 1,039 shares. The State of Alaska Department of Revenue increased the amount of Parker-Hannifin stock owned by 2.0% during the second quarter. The Department of Revenue of the State of Alaska now has a total of 18,430 shares of stock in the industrial products company after purchasing an additional 355 shares during the most recent period. This brings the department’s total number of shares to 18.430. The value of these shares as of right now is $4,534,000 in total. At the end of the second quarter, the NewEdge Wealth LLC portfolio contained an investment in Parker Hannifin worth 621 thousand dollars. Sumitomo Mitsui Trust Holdings Inc. increased the proportion of Parker-Hannifin stock owned by 3.0% during the third quarter of 2018. Sumitomo Mitsui Trust Holdings Inc. purchased 25,072 shares of stock in the industrial products company during the most recent fiscal quarter. This brings the total number of shares that it owns in the company to 870,358 and gives them a value of $210,896,000.
Last but not least, Pinnacle Associates Ltd. increased its holdings in Parker Hannifin by 5.8 percent during the second quarter. This certainly should not be considered the least important development. Pinnacle Associates Ltd. now has a total of 1,439 shares of the industrial products company’s stock following the purchase of an additional 79 shares during the most recent quarter. The stock of the industrial products company is currently valued at $354,000. Shares of the company are currently owned by various types of institutional investors, including hedge funds, to the extent of 81.32%.
The Parker-Hannifin Corporation is a global leader in producing and distributing technologies and systems related to motion and control. It is used in many applications, some of which can be found in the mobile, industrial, and aerospace industries. The entire company can be broken down into its two primary divisions: Aerospace Systems and Diversified Industrial. In addition to adhesives, coatings, and solutions for noise, vibration, and harshness, Diversified Industrial offers connectors that can control, transmit, and contain fluid; thermal products and systems that are resistant to extreme corrosion; high temperatures; and precise flow; and solutions for noise, vibration, and harshness. All of these products and more can be purchased from Diversified Industrial. In addition, it offers filters, systems, and diagnostic solutions that can monitor and get rid of impurities in the fuel, air, oil, water, and various other liquids and gases, in addition to other substances.