Parker-Hannifin Corp is Upgraded by Argus to ” Buy”

Parker-Hannifin Corp (PH) was Upgraded by Argus to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Argus advised their Clients and Investors in a research report released on Feb 7, 2017.

On the company’s financial health, Parker-Hannifin Corp reported $1.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.52 according to the earnings call on Feb 2, 2017. Analyst had a consensus of $1.39. The company had revenue of $2670.80 million for the quarter, compared to analysts expectations of $2690.13 million. The company’s revenue was down -1.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.52 EPS.

Several company insiders have filed Insider transactions , on Dec 13, 2016, Wolfgang R Schmitt (director) sold 6,335 shares at $141.19 per share price. According to the SEC, 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 Corp opened for trading at $149.76 and hit $150.33 on the upside on Friday, eventually ending the session at $150.25, with a gain of 0.59% or 0.88 points. The heightened volatility saw the trading volume jump to 10,58,958 shares. Company has a market cap of $20,027 M.

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.

Parker-Hannifin Corp

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