Morgan Stanley Initiates Coverage on Parker-Hannifin (NYSE:PH)

Analysts at Morgan Stanley started coverage on shares of Parker-Hannifin (NYSE:PH - Get Free Report) in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage set an "equal weight" rating and a $700.00 price target on the industrial products company's stock. Morgan Stanley's target price suggests a potential upside of 4.16% from the company's current price.

A number of other equities analysts have also recently commented on PH. Mizuho set a $785.00 price target on Parker-Hannifin in a report on Friday, May 16th. Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Barclays cut their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Argus set a $680.00 price target on Parker-Hannifin in a report on Tuesday, May 6th. Finally, Evercore ISI lifted their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus price target of $719.71.

Parker-Hannifin Price Performance

PH stock traded up $10.05 during midday trading on Thursday, reaching $672.02. 387,695 shares of the company's stock traded hands, compared to its average volume of 711,186. Parker-Hannifin has a 1-year low of $488.45 and a 1-year high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a 50-day simple moving average of $615.65 and a two-hundred day simple moving average of $645.90. The company has a market cap of $85.87 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 2.85 and a beta of 1.36.

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

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president now owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Parker-Hannifin

Several large investors have recently made changes to their positions in PH. eCIO Inc. bought a new stake in shares of Parker-Hannifin in the 1st quarter worth $136,000. Inspire Investing LLC lifted its position in shares of Parker-Hannifin by 5.1% during the 1st quarter. Inspire Investing LLC now owns 12,386 shares of the industrial products company's stock valued at $7,529,000 after buying an additional 596 shares in the last quarter. Strs Ohio purchased a new position in shares of Parker-Hannifin during the 1st quarter valued at $30,548,000. Intrua Financial LLC boosted its stake in shares of Parker-Hannifin by 5.1% in the first quarter. Intrua Financial LLC now owns 520 shares of the industrial products company's stock worth $316,000 after acquiring an additional 25 shares during the period. Finally, Advisors Capital Management LLC raised its position in shares of Parker-Hannifin by 4.8% during the first quarter. Advisors Capital Management LLC now owns 790 shares of the industrial products company's stock valued at $481,000 after buying an additional 36 shares during the last quarter. 82.44% of the stock is currently 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.