Parker-Hannifin (NYSE:PH) Upgraded by StockNews.com to “Buy”

Parker-Hannifin (NYSE:PH) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Other equities analysts have also issued reports about the stock. Barclays increased their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday. TD Cowen boosted their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday, September 11th. Evercore ISI increased their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Wells Fargo & Company boosted their price target on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $636.64.

Parker-Hannifin Stock Down 0.2 %

Shares of PH opened at $626.31 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The stock has a market cap of $80.59 billion, a price-to-earnings ratio of 29.52, a P/E/G ratio of 2.57 and a beta of 1.43. The company has a 50-day moving average price of $585.40 and a two-hundred day moving average price of $553.40. Parker-Hannifin has a 12 month low of $362.49 and a 12 month high of $639.87.

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

Insider Activity

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

Institutional Investors Weigh In On Parker-Hannifin

A number of large investors have recently bought and sold shares of the stock. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin during the second quarter valued at approximately $25,000. Harbor Investment Advisory LLC increased its position in shares of Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Parker-Hannifin during the 4th quarter worth $30,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin in the 1st quarter worth about $31,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after buying an additional 52 shares during the last quarter. 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.