Parker Hannifin Receives a New Rating from Top Analyst

By Ryan Adsit

In a report released yesterday, Stephen Volkmann from Jefferies reiterated a Hold rating on Parker Hannifin (NYSE: PH), with a price target of $145. The company’s shares closed yesterday at $159.10, close to its 52-week high of $160.23.

According to TipRanks.com, Volkmann is a top 100 analyst with an average return of 17.9% and a 74.9% success rate. Volkmann covers the Industrial Goods sector, focusing on stocks such as United Technologies Corp, Honeywell International, and Illinois Tool Works.

Parker Hannifin has an analyst consensus of Strong Buy, with a price target consensus of $169.

Parker Hannifin’s market cap is currently $21.21B and has a P/E ratio of 24.59. The company has a book value ratio of 4.6838.

Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is negative on the stock. Most recently, in December 2016, Lee Banks, the President and COO of PH sold 20,900 shares for a total of $2,975,324.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Parker-Hannifin Corp. is a manufacturer of motion and control technologies and systems, providing engineered solutions for mobile, industrial and aerospace markets. It operates through the following segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment offers products to original equipment manufacturers. The Aerospace Systems Segment involves products for the commercial and military aerospace markets. The company was founded by Arthur L. Parker in 1918 and is headquartered in Cleveland, OH.