Analysis: Parker Hannifin (NYSE:PH) Price Target Upgraded Today
In an analyst note issued by JP Morgan on Friday morning, the firm, Parker Hannifin (NYSE:PH), had their target lowered to $97.00. Analusts presently have a solid Neutral rating on the stock.
From a total of 15 analysts covering Parker-Hannifin (NYSE:PH) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 15 a ”Hold”. This means that 21% of the ratings are positive. The highest target price is $119 while the lowest target price is $89. The mean of all analyst targets is $104.2 with a 9.16% above today’s ($95.89) stock price. Parker-Hannifin was the topic of 14 analyst reports since August 9, 2015 according to the firm StockzIntelligence Inc. Argus Research downgraded shares on October 27 to “Hold” rating. Citigroup downgraded PH stock in a recent report from October 20 to “Neutral” rating. Finally, Deutsche Bank maintained the stock with “Hold” rating in a report issued on an August 25.
Approximately 699,874 shares of stock traded hands. Parker-Hannifin Corp (NYSE:PH) has declined 19.33% since May 8, 2015 and is downtrending. It has underperformed by 16.32% the S&P500.
The overall sentiment of institutions has decreased to 0.69 in Q2 2015. Its down 0.08, from 0.77 in 2015Q2. The ratio is negative, as 71 institutions have sold all the shares of Parker-Hannifin Corp that they owned while 211 funds have taken shares off the table. 36 funds have purchased shares for the first time while 158 added to their positions. These institutions now hold 111.38 million shares or 9.32% less than the 122.82 million shares they owned in 2015Q2.
The Fund Vulcan Value Partners Llc currently is holding shares equating to 6.83% of its total portfolio in Parker-Hannifin Corp representing a total of 7.24 million shares. Another fund,Long Oar Global Investors Llc, is holding a total of 10,000 shares equating to 4.49% of their holdings. Additionally, Longview Partners (Guernsey) Ltd has a 6.29 million share stake in Parker-Hannifin Corp which represents 4.32% of their total portfolio. The Fund, Cornerstone Investment Partners Llc, based out of Georgia, has also built up a stake in the stock, which represents a total of 4.08% of their total portfolio. Finally Centaur Capital Partners L.P., a fund which is based in the state of Texas reported a total holdings of 23,000 shares.
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a wide variety of mobile, industrial and aerospace markets. The company has a market cap of $13.31 billion. The Company’s manufacturing, service, sales, distribution and administrative facilities are located in the United States and in 49 other countries. It has 14.73 P/E ratio. The Company’s products are supplied to approximately 450,000 clients in manufacturing, transportation and processing industry.
According to Zacks Investment Research, “Parker-Hannifin Corporation is a leading worldwide full-line manufacturer of motion control products, including fluid power systems, electro-mechanical controls and related components. Fluid power involves the transfer and control of power through the medium of liquid, gas or air, in hydraulic, pneumatic and vacuum applications. Fluid power systems move and position materials, control machines, vehicles and equipment and improve industrial efficiency and productivity.” Get a free copy of the Zacks research report on Parker-Hannifin Corp (PH).