Parker-Hannifin (NYSE:PH) PT Raised to $703.00

Parker-Hannifin (NYSE:PH) had its target price hoisted by equities researchers at Barclays from $650.00 to $703.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential upside of 11.16% from the company’s current price.

Several other analysts also recently issued reports on PH. TD Cowen upped their price target on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Robert W. Baird lifted their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Evercore ISI boosted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Raymond James lifted their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $636.64.

Parker-Hannifin Stock Up 0.4 %

NYSE PH traded up $2.30 during trading on Wednesday, hitting $632.44. The company’s stock had a trading volume of 266,506 shares, compared to its average volume of 649,418. The business’s 50 day simple moving average is $581.81 and its 200-day simple moving average is $552.36. The company has a market cap of $81.29 billion, a PE ratio of 29.72, a P/E/G ratio of 2.54 and a beta of 1.43. Parker-Hannifin has a fifty-two week low of $362.49 and a fifty-two week high of $639.87. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter last year, the business posted $6.08 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Parker-Hannifin will post 26.63 EPS for the current fiscal year.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Parker-Hannifin

Several institutional investors and hedge funds have recently added to or reduced their stakes in PH. Fidelis Capital Partners LLC lifted its stake in Parker-Hannifin by 2.3% in the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 19 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after buying an additional 20 shares during the last quarter. GoalVest Advisory LLC raised its position in Parker-Hannifin by 40.0% during the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after buying an additional 20 shares during the last quarter. American Trust raised its position in Parker-Hannifin by 3.2% during the first quarter. American Trust now owns 649 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 20 shares in the last quarter. Finally, TFG Advisers LLC boosted its holdings in Parker-Hannifin by 0.9% during the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock worth $1,098,000 after buying an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.