Parker-Hannifin (NYSE:PH) PT Raised to $640.00

Parker-Hannifin (NYSE:PH) had its price objective hoisted by analysts at Wells Fargo & Company from $600.00 to $640.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target points to a potential upside of 12.32% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Raymond James initiated coverage on shares of Parker-Hannifin in a report on Friday, June 28th. They issued an “outperform” rating and a $610.00 price target for the company. Truist Financial restated a “buy” rating and set a $673.00 price objective (up from $621.00) on shares of Parker-Hannifin in a report on Friday. Robert W. Baird increased their target price on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday. Stifel Nicolaus cut their price target on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, KeyCorp increased their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $615.43.

Parker-Hannifin Trading Up 0.3 %

Shares of NYSE:PH traded up $1.73 during trading on Friday, hitting $569.81. 920,574 shares of the company’s stock were exchanged, compared to its average volume of 735,999. Parker-Hannifin has a 1-year low of $362.49 and a 1-year high of $576.54. The firm has a market cap of $73.24 billion, a P/E ratio of 26.85, a PEG ratio of 1.98 and a beta of 1.44. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $525.78 and a two-hundred day moving average price of $531.56.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the company posted $6.08 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts predict that Parker-Hannifin will post 24.85 earnings per share for the current year.

Hedge Funds Weigh In On Parker-Hannifin

Several institutional investors and hedge funds have recently modified their holdings of PH. Bleakley Financial Group LLC lifted its holdings in Parker-Hannifin by 2.6% during the 4th quarter. Bleakley Financial Group LLC now owns 2,531 shares of the industrial products company’s stock worth $1,166,000 after purchasing an additional 64 shares during the last quarter. Custom Index Systems LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $295,000. Cerity Partners LLC boosted its position in shares of Parker-Hannifin by 235.7% in the fourth quarter. Cerity Partners LLC now owns 21,545 shares of the industrial products company’s stock valued at $9,926,000 after acquiring an additional 15,127 shares during the period. Sapient Capital LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at about $1,392,000. Finally, Valeo Financial Advisors LLC increased its position in Parker-Hannifin by 14.8% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,620 shares of the industrial products company’s stock worth $746,000 after acquiring an additional 209 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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.