Parker-Hannifin (NYSE:PH) Stock Rating Raised to Hold at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Parker-Hannifin to “Hold”, while the broader analyst consensus remains “Moderate Buy,” with 16 Buy ratings, three Holds, and an average price target of $1,119.55.
• Parker-Hannifin reported strong quarterly results, earning $9.27 per share versus the $8.31 consensus estimate and generating $5.75 billion in revenue, up 9.8% year over year.
• Shares opened at $976.02, with the company valued at approximately $123.09 billion; institutional investors own 82.44% of the stock, while a company vice president recently sold 602 shares.

Parker-Hannifin (NYSE:PH - Get Free Report) was upgraded by equities research analysts at Wells Fargo & Company to a "hold" rating in a note issued to investors on Thursday, Zacks reports.

Several other analysts have also recently commented on PH. UBS Group boosted their price target on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. KeyCorp lifted their target price on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a research report on Friday, August 7th. Citigroup boosted their target price on 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. Finally, Truist Financial raised their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a "buy" rating in a report on Friday, August 7th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $1,119.55.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $976.02 on Thursday. Parker-Hannifin has a 12-month low of $715.37 and a 12-month high of $1,099.94. The firm has a market capitalization of $123.09 billion, a price-to-earnings ratio of 34.26, a price-to-earnings-growth ratio of 3.04 and a beta of 1.13. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $988.26 and a 200 day moving average of $944.33.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the firm earned $7.69 earnings per share. The company's quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, research analysts anticipate that Parker-Hannifin will post 34.95 earnings per share for the current year.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company's stock in a transaction that occurred on 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 sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Parker-Hannifin

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Andra AP fonden lifted its holdings in shares of Parker-Hannifin by 3.1% in the 2nd quarter. Andra AP fonden now owns 29,567 shares of the industrial products company's stock worth $28,920,000 after acquiring an additional 880 shares during the last quarter. State Street Corp boosted its holdings in Parker-Hannifin by 0.5% during the 2nd quarter. State Street Corp now owns 9,385,389 shares of the industrial products company's stock valued at $9,180,037,000 after acquiring an additional 42,548 shares during the period. Tortoise Investment Management LLC grew its position in Parker-Hannifin by 6.4% in the 2nd quarter. Tortoise Investment Management LLC now owns 629 shares of the industrial products company's stock valued at $615,000 after acquiring an additional 38 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in Parker-Hannifin by 10.0% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 60,061 shares of the industrial products company's stock valued at $58,747,000 after acquiring an additional 5,473 shares during the last quarter. Finally, Archford Capital Strategies LLC increased its stake in Parker-Hannifin by 77.5% in the second quarter. Archford Capital Strategies LLC now owns 2,072 shares of the industrial products company's stock worth $2,027,000 after purchasing an additional 905 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation NYSE: PH is a diversified manufacturer of motion and control technologies. The company develops and produces systems and components that manage the movement and flow of liquids, gases and other materials for industrial, mobile and aerospace applications.

Its products include hydraulic and pneumatic systems, fluid connectors, filtration and process-control equipment, electromechanical technologies, seals, thermal-management solutions and aerospace systems. Parker-Hannifin serves manufacturers and operators in markets such as factory automation, transportation, energy, construction, life sciences and aviation.

Founded in 1917, Parker-Hannifin is headquartered in Cleveland, Ohio, and serves customers through manufacturing, distribution and sales operations across North America, Europe, Asia and other international markets.

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