JP Morgan Upgrades Parker-Hannifin Corp to Overweight

Brokerage firm JP Morgan Upgrades its rating on Parker-Hannifin Corp(PH). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at JP Morgan was issued on Feb 22, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 7, 2017, Argus Research said it Upgrades its rating on Parker-Hannifin Corp. In the research note, the firm Announces the price-target to $176 per share. The shares have been rated ‘Buy’ by the firm.

Parker-Hannifin Corp (PH) made into the market gainers list on Wednesdays trading session with the shares advancing 0.15% or 0.24 points. Due to strong positive momentum, the stock ended at $155.86, which is also near the day’s high of $156.84. The stock began the session at $156.49 and the volume stood at 10,58,473 shares. The 52-week high of the shares is $156.84 and the 52 week low is $98.47. The company has a current market capitalization of $20,775 M and it has 13,32,93,693 shares in outstanding.

Parker-Hannifin Corp(PH) last announced its earnings results on Feb 2, 2017 for Fiscal Year 2017 and Q2.Company reported revenue of $2.671B. Analysts had an estimated revenue of $2.690B. Earnings per share were $1.7. Analysts had estimated an EPS of $1.39.

Several Insider Transactions has been reported to the SEC. On Dec 13, 2016, Wolfgang R Schmitt (director) sold 6,335 shares at $141.19 per share price.Also, On Dec 12, 2016, Candy M Obourn (director) sold 1,755 shares at $142.90 per share price.On Dec 6, 2016, William G Eline (VP- Chief Information Officer) sold 11,151 shares at $143.05 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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