Parker-Hannifin (NYSE:PH) Downgraded by Wolfe Research to “Peer Perform”

Parker-Hannifin (NYSE:PH) was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report issued on Thursday, Marketbeat Ratings reports.

PH has been the subject of a number of other reports. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, March 19th. UBS Group lowered their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Barclays cut their target price on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. KeyCorp lifted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, Jefferies Financial Group boosted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $736.65.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $517.00 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The company has a market cap of $66.55 billion, a PE ratio of 21.40, a PEG ratio of 2.85 and a beta of 1.50. Parker-Hannifin has a 12-month low of $492.71 and a 12-month high of $718.44. The business’s fifty day simple moving average is $649.18 and its 200-day simple moving average is $653.93.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) 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%. Analysts expect that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Parker-Hannifin

Several large investors have recently made changes to their positions in PH. Global Retirement Partners LLC raised its position in shares of Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after acquiring an additional 15 shares during the period. FFT Wealth Management LLC increased its stake in shares of Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company’s stock valued at $732,000 after purchasing an additional 15 shares in the last quarter. GenTrust LLC raised its holdings in Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 15 shares during the period. First Manhattan CO. LLC. boosted its position in Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock worth $1,005,000 after purchasing an additional 15 shares in the last quarter. Finally, Grove Bank & Trust grew its holdings in Parker-Hannifin by 11.9% in the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 16 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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.