Evercore ISI Increases Parker-Hannifin (NYSE:PH) Price Target to $827.00

Parker-Hannifin (NYSE:PH - Get Free Report) had its price target upped by investment analysts at Evercore ISI from $824.00 to $827.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Evercore ISI's price target would indicate a potential upside of 21.45% from the company's previous close.

PH has been the topic of several other reports. UBS Group dropped their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company boosted their price target on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Stifel Nicolaus boosted their price target on Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Finally, KeyCorp boosted their price target on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $714.06.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $680.95 on Monday. The business's 50 day simple moving average is $603.37 and its 200 day simple moving average is $647.33. Parker-Hannifin has a one year low of $488.45 and a one year high of $718.44. The stock has a market capitalization of $87.01 billion, a PE ratio of 28.19, a PEG ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the prior year, the business posted $6.51 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis. As a group, research analysts forecast that Parker-Hannifin will post 26.71 earnings per share for the current year.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Parker-Hannifin

Institutional investors and hedge funds have recently bought and sold shares of the stock. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd bought a new position in Parker-Hannifin in the 4th quarter valued at $25,000. Wealth Preservation Advisors LLC bought a new position in Parker-Hannifin in the 1st quarter valued at $27,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the 4th quarter valued at $30,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin in the 4th quarter valued at $32,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

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.

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