Parker-Hannifin (NYSE:PH) Rating Lowered to Peer Perform at Wolfe Research

Parker-Hannifin (NYSE:PH) was downgraded by Wolfe Research from an “outperform” rating to a “peer perform” rating in a research report issued on Thursday,Briefing.com Automated Import reports.

Other equities analysts also recently issued reports about the stock. Citigroup started coverage on shares of Parker-Hannifin in a report on Friday, February 7th. They set a “buy” rating and a $795.00 price objective on the stock. Evercore ISI lifted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. UBS Group reduced their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating for the company in a report on Friday, January 31st. KeyCorp lifted their price target on Parker-Hannifin from $775.00 to $790.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Truist Financial increased their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $736.65.

Parker-Hannifin Stock Up 3.3 %

PH stock opened at $630.09 on Thursday. Parker-Hannifin has a one year low of $492.71 and a one year high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm’s fifty day moving average is $654.89 and its 200 day moving average is $655.17. The firm has a market cap of $81.11 billion, a PE ratio of 26.08, a P/E/G ratio of 2.85 and a beta of 1.50.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, research analysts forecast that Parker-Hannifin will post 26.71 EPS for the current year.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $32,000. Finally, Prestige Wealth Management Group LLC lifted its stake in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds 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.