The stock of Parker-Hannifin Corp (NYSE:PH) reached all time high today, Dec, 1 and still has $151.42 target or 6.00% above today’s $142.85 share price. This indicates more upside for the $19.33 billion company. This technical setup was reported by Barchart.com. If the $151.42 PT is reached, the company will be worth $1.16B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 737,325 shares traded hands. Parker-Hannifin Corp (NYSE:PH) has risen 20.35% since April 28, 2016 and is uptrending. It has outperformed by 14.42% the S&P500.
Analysts await Parker-Hannifin Corp (NYSE:PH) to report earnings on January, 24. They expect $1.40 EPS, down 7.89% or $0.12 from last year’s $1.52 per share. PH’s profit will be $189.44 million for 25.51 P/E if the $1.40 EPS becomes a reality. After $1.61 actual EPS reported by Parker-Hannifin Corp for the previous quarter, Wall Street now forecasts -13.04% negative EPS growth.
Parker-Hannifin Corp (NYSE:PH) Ratings Coverage
Out of 14 analysts covering Parker-Hannifin (NYSE:PH), 3 rate it a “Buy”, 1 “Sell”, while 10 “Hold”. This means 21% are positive. Parker-Hannifin has been the topic of 29 analyst reports since August 9, 2015 according to StockzIntelligence Inc. Goldman Sachs upgraded the shares of PH in a report on Tuesday, October 11 to “Neutral” rating. The stock of Parker-Hannifin Corp (NYSE:PH) earned “Buy” rating by Evercore on Monday, November 7. The rating was upgraded by Stifel Nicolaus on Wednesday, October 5 to “Buy”. The stock has “Sell” rating given by Goldman Sachs on Monday, March 28. Bank of America downgraded Parker-Hannifin Corp (NYSE:PH) on Monday, October 26 to “Neutral” rating. As per Friday, April 1, the company rating was initiated by Barclays Capital. As per Tuesday, August 25, the company rating was maintained by Deutsche Bank. Jefferies downgraded the stock to “Hold” rating in Wednesday, January 20 report. The firm earned “Hold” rating on Tuesday, October 27 by Argus Research. As per Tuesday, October 20, the company rating was downgraded by Citigroup.
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.”
Insitutional Activity: The institutional sentiment decreased to 1.02 in 2016 Q2. Its down 0.13, from 1.15 in 2016Q1. The ratio worsened, as 41 funds sold all Parker-Hannifin Corp shares owned while 169 reduced positions. 61 funds bought stakes while 181 increased positions. They now own 105.78 million shares or 5.51% less from 111.95 million shares in 2016Q1.
Bessemer last reported 312 shares in the company. Moreover, Comml Bank has 0.03% invested in Parker-Hannifin Corp (NYSE:PH) for 20,409 shares. First Tru Advsr L P last reported 0.06% of its portfolio in the stock. Union Bancorporation Corporation last reported 27,684 shares in the company. High Pointe Capital Mngmt accumulated 1.22% or 7,420 shares. Mai Cap Mgmt holds 8,690 shares or 0.07% of its portfolio. Seizert Cap Prtnrs Limited Company last reported 167,127 shares in the company. Apg Asset Nv holds 741,331 shares or 0.15% of its portfolio. First Mercantile Company has 0.17% invested in the company for 12,650 shares. Clinton Gp, a New York-based fund reported 132,257 shares. Midwest Invest Mngmt Ltd Limited Liability Company last reported 19,735 shares in the company. Arizona State Retirement Sys has 0.05% invested in the company for 33,024 shares. Amp Cap Investors Limited last reported 0.07% of its portfolio in the stock. Aviva Public Limited Liability Company holds 81,961 shares or 0.06% of its portfolio. Proffitt And Goodson Inc owns 9,042 shares or 0.54% of their US portfolio.
Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 17 selling transactions for $11.27 million net activity. The insider Keller Kurt A sold 757 shares worth $92,443. Shares for $47,297 were sold by Dedinsky John G Jr. Chung Yoon Michael also sold $605,130 worth of Parker-Hannifin Corp (NYSE:PH) on Thursday, November 10. MAXWELL MARTIN C had sold 893 shares worth $107,712 on Friday, August 5. Sherrard Roger S sold $808,963 worth of Parker-Hannifin Corp (NYSE:PH) on Thursday, November 10. Suever Catherine A sold $125,628 worth of Parker-Hannifin Corp (NYSE:PH) on Friday, August 12. $301,224 worth of Parker-Hannifin Corp (NYSE:PH) was sold by BOND ROBERT W.
More recent Parker-Hannifin Corp (NYSE:PH) news were published by: Reuters.com which released: “Engineering company Parker-Hannifin to buy Clarcor” on December 01, 2016. Also Crainscleveland.com published the news titled: “CFO of Parker Hannifin Corp. is taking a temporary medical leave of absence” on November 21, 2016. Forbes.com‘s news article titled: “Ex-Dividend Reminder: Parker Hannifin, Kennametal and Boeing” with publication date: November 04, 2016 was also an interesting one.
PH Company Profile
Parker-Hannifin Corporation, incorporated on December 30, 1938, is a maker of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Firm operates through divisions: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment. The Aerospace Systems Segment produces hydraulic, fuel, pneumatic and electro-mechanical systems and components, which are utilized on domestic commercial, military and general aviation aircrafts.
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