Barclays Maintains Parker-Hannifin Corp to Equal-weight with Price Target $121.00

Brokerage firm Barclays Maintains its rating on Parker-Hannifin Corp(NYSE:PH). In a research note issued to the investors, the brokerage major Raises the price-target to $121.00 per share. The shares have been rated Equal-weight. The rating by Barclays was issued on Aug 5, 2016.

In a different note, On Jun 27, 2016, JP Morgan said it Downgrades its rating on Parker-Hannifin Corp. In the research note, the firm Lowers the price-target to $110.00 per share. The shares have been rated ‘Underweight’ by the firm.

Parker-Hannifin Corp (PH) made into the market gainers list on Wednesdays trading session with the shares advancing 0.20% or 0.25 points. Due to strong positive momentum, the stock ended at $124.36, which is also near the day’s high of $124.845. The stock began the session at $123.97 and the volume stood at 11,85,699 shares. The 52-week high of the shares is $124.845 and the 52 week low is $83.32. The company has a current market capitalization of $16,749 M and it has 13,46,81,480 shares in outstanding.

Parker-Hannifin Corp(PH) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $2.96B. Analysts had an estimated revenue of $2.93B. Earnings per share were $1.90. Analysts had estimated an EPS of $1.75.

Several Insider Transactions has been reported to the SEC. On Jun 9, 2016, John G Jr Dedinsky (VP-Gbl Supply Chain/Procuremnt) sold 1,500 shares at $116.96 per share price.Also, On Jun 7, 2016, Robert W Bond (VP- eBus, IoT and Services) sold 9,756 shares at $116.66 per share price.On Jun 7, 2016, Jon P. Marten (EVP – Finance Admin/CFO) sold 5,172 shares at $116.00 per share price, according to the Form-4 filing with the securities and exchange commission.

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’s manufacturing service sales distribution and administrative facilities are located in the United States and in 49 other countries. Its products are supplied to approximately 450000 customers in manufacturing transportation and processing industry. The Company has two reporting segments: Diversified Industrial Segment products are made to original equipment manufacturers and their replacement markets in manufacturing packaging processing transportation mobile construction refrigeration and air conditioning agricultural and military machinery and equipment industries and Aerospace Systems Segment products are made in the commercial and military aerospace markets to both original equipment manufacturers and to end users for spares maintenance repair and overhaul.

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