Brokerages Set Parker-Hannifin Corporation (NYSE:PH) PT at $739.59

Key Points

• Parker-Hannifin Corporation has received a consensus rating of "Moderate Buy" from 17 analysts, with 13 recommending a buy and 4 recommending a hold.
• The average 1-year price target set by analysts for the company is $739.59, with various price target adjustments from different financial institutions.
• Parker-Hannifin's most recent quarterly earnings showed an EPS of $6.94, surpassing analysts' expectations, even as revenue declined by 2.2% compared to the same quarter last year.

Parker-Hannifin Corporation (NYSE:PH - Get Free Report) has earned a consensus rating of "Moderate Buy" from the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $739.59.

A number of brokerages have weighed in on PH. Argus set a $680.00 price objective on Parker-Hannifin in a research note on Tuesday, May 6th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $709.00 to $717.00 and gave the company a "hold" rating in a report on Monday, July 21st. Barclays raised their price objective on shares of Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 1st. Finally, Mizuho set a $785.00 target price on shares of Parker-Hannifin in a research note on Friday, May 16th.

Parker-Hannifin Stock Down 2.8%

Shares of PH stock traded down $20.40 on Friday, hitting $711.50. The stock had a trading volume of 903,021 shares, compared to its average volume of 478,697. Parker-Hannifin has a 52-week low of $488.45 and a 52-week high of $745.34. The firm has a market capitalization of $90.92 billion, a price-to-earnings ratio of 27.40, a P/E/G ratio of 3.12 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. The stock's 50 day moving average is $691.28 and its 200-day moving average is $654.30.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the firm earned $6.51 earnings per share. The company's revenue was down 2.2% on a year-over-year basis. As a group, research analysts expect that Parker-Hannifin will post 26.71 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in shares of Parker-Hannifin by 27.2% during the first quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock worth $18,850,000 after acquiring an additional 6,630 shares during the last quarter. Alley Investment Management Company LLC acquired a new position in Parker-Hannifin during the 1st quarter valued at about $7,996,000. Community Financial Services Group LLC grew its position in Parker-Hannifin by 1,338.2% in the 1st quarter. Community Financial Services Group LLC now owns 6,630 shares of the industrial products company's stock worth $4,030,000 after purchasing an additional 6,169 shares during the last quarter. Heartland Bank & Trust Co acquired a new stake in shares of Parker-Hannifin in the first quarter valued at approximately $260,000. Finally, Systematic Alpha Investments LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $712,000. 82.44% of the stock is currently owned by 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.