KeyCorp Boosts Parker-Hannifin (NYSE:PH) Price Target to $640.00

Parker-Hannifin (NYSE:PH - Get Free Report) had its target price upped by equities research analysts at KeyCorp from $575.00 to $640.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. KeyCorp's price objective indicates a potential upside of 15.11% from the company's previous close.

Other analysts have also recently issued research reports about the company. TD Cowen raised Parker-Hannifin from an "underperform" rating to a "market perform" rating and lifted their price objective for the company from $300.00 to $500.00 in a research report on Friday, March 1st. Truist Financial started coverage on Parker-Hannifin in a research note on Thursday, March 14th. They issued a "buy" rating and a $602.00 price target for the company. Evercore ISI increased their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an "outperform" rating in a report on Tuesday, February 20th. The Goldman Sachs Group reiterated a "buy" rating and issued a $551.00 target price on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Finally, Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a "buy" rating in a research note on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and an average price target of $515.38.

Parker-Hannifin Price Performance

NYSE PH traded up $0.61 on Thursday, reaching $555.98. 391,293 shares of the stock traded hands, compared to its average volume of 592,763. Parker-Hannifin has a 12 month low of $309.89 and a 12 month high of $570.15. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. The firm's fifty day simple moving average is $535.87 and its 200 day simple moving average is $465.15. The company has a market cap of $71.39 billion, a price-to-earnings ratio of 27.51, a P/E/G ratio of 2.08 and a beta of 1.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating the consensus estimate of $5.26 by $0.89. The business had revenue of $4.82 billion during the quarter, compared to analysts' expectations of $4.82 billion. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The company's quarterly revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $4.76 earnings per share. As a group, research analysts predict that Parker-Hannifin will post 24.25 EPS for the current fiscal year.

Insider Transactions at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,978 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of the business's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares of the company's stock, valued at $2,741,899.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now owns 13,120 shares of the company's stock, valued at $6,693,299.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,079 shares of company stock worth $6,099,566. Company insiders own 1.03% of the company's stock.

Institutional Investors Weigh In On Parker-Hannifin

A number of institutional investors have recently added to or reduced their stakes in PH. Beaumont Asset Management L.L.C. increased its position in Parker-Hannifin by 0.8% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company's stock worth $1,415,000 after purchasing an additional 24 shares during the period. Wilbanks Smith & Thomas Asset Management LLC raised its stake in shares of Parker-Hannifin by 0.7% during the third quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company's stock worth $1,417,000 after buying an additional 25 shares during the last quarter. M&R Capital Management Inc. lifted its holdings in Parker-Hannifin by 25.0% in the fourth quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company's stock valued at $58,000 after buying an additional 25 shares during the period. Private Trust Co. NA lifted its holdings in Parker-Hannifin by 0.7% in the fourth quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company's stock valued at $1,730,000 after buying an additional 25 shares during the period. Finally, Keel Point LLC boosted its stake in Parker-Hannifin by 3.1% in the fourth quarter. Keel Point LLC now owns 842 shares of the industrial products company's stock valued at $388,000 after acquiring an additional 25 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

About Parker-Hannifin

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.