JPMorgan Chase & Co. Cuts Parker-Hannifin (NYSE:PH) Price Target to $1,131.00

Key Points

• JPMorgan lowered Parker-Hannifin’s price target from $1,140 to $1,131 while maintaining an “overweight” rating, implying 17.64% potential upside from the current share price.
• Analyst sentiment remains favorable overall: 16 analysts rate the stock a Buy and three a Hold, producing a “Moderate Buy” consensus rating and an average target of $1,123.10.
• Parker-Hannifin reported quarterly EPS of $9.27, exceeding estimates by $0.96, while revenue rose 9.8% year over year to $5.75 billion. Shares recently traded at $961.43.

Parker-Hannifin (NYSE:PH - Get Free Report) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $1,140.00 to $1,131.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 17.64% from the stock's current price.

Several other equities research analysts have also recently issued reports on PH. Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a report on Friday, August 7th. BMO Capital Markets reissued an "outperform" rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Citigroup boosted their target price on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Wells Fargo & Company initiated coverage on Parker-Hannifin in a research note on Thursday, September 24th. They set an "equal weight" rating and a $1,050.00 price objective on the stock. Finally, Wall Street Zen cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Sixteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,123.10.

Parker-Hannifin Stock Performance

Shares of PH stock traded up $14.47 during trading hours on Friday, reaching $961.43. 268,290 shares of the company's stock were exchanged, compared to its average volume of 688,289. The company's 50 day moving average is $987.27 and its two-hundred day moving average is $948.12. Parker-Hannifin has a 1 year low of $715.37 and a 1 year high of $1,099.94. The company has a market cap of $121.25 billion, a P/E ratio of 33.75, a price-to-earnings-growth ratio of 2.91 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping analysts' consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the company posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts anticipate that Parker-Hannifin will post 35.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the firm's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.35% of the company's stock.

Institutional Investors Weigh In On Parker-Hannifin

Several institutional investors have recently made changes to their positions in PH. Riversedge Advisors LLC grew its position in Parker-Hannifin by 35.3% in the third quarter. Riversedge Advisors LLC now owns 391 shares of the industrial products company's stock worth $374,000 after acquiring an additional 102 shares in the last quarter. Wedmont Private Capital grew its position in shares of Parker-Hannifin by 2.0% in the third quarter. Wedmont Private Capital now owns 3,983 shares of the industrial products company's stock valued at $3,772,000 after purchasing an additional 78 shares during the last quarter. Central Bank & Trust Co. increased its position in Parker-Hannifin by 2.3% in the 3rd quarter. Central Bank & Trust Co. now owns 2,196 shares of the industrial products company's stock worth $2,098,000 after buying an additional 49 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in Parker-Hannifin by 1.1% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 37,195 shares of the industrial products company's stock worth $35,537,000 after acquiring an additional 400 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Parker-Hannifin by 14.7% during the third quarter. GAMMA Investing LLC now owns 4,982 shares of the industrial products company's stock valued at $4,760,000 after buying an additional 640 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 is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.