Parker-Hannifin (NYSE:PH) Now Covered by BMO Capital Markets

Key Points

• BMO Capital Markets initiated coverage on Parker-Hannifin with an "outperform" rating and a $1,090 price target, implying about a 21% upside from the current share price.
• Analysts are broadly positive — 17 Buy vs. 5 Hold ratings — giving the stock an average rating of Moderate Buy and an average price target of about $1,000.10, with several firms recently raising their targets.
• Parker-Hannifin reported a quarterly EPS of $7.65 (vs. $7.11 expected) and revenue up 9.1% year‑over‑year; the stock traded near $899.91 (down ~2.3%) and insiders sold roughly $9.9M of stock in the last quarter.

Stock analysts at BMO Capital Markets started coverage on shares of Parker-Hannifin (NYSE:PH - Get Free Report) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm set an "outperform" rating and a $1,090.00 price target on the industrial products company's stock. BMO Capital Markets' price target would suggest a potential upside of 21.12% from the company's current price.

PH has been the subject of a number of other research reports. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. KeyCorp reissued an "overweight" rating and set a $1,100.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. iA Financial set a $1,032.00 price objective on Parker-Hannifin in a report on Thursday, January 29th. Finally, The Goldman Sachs Group reiterated a "buy" rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Seventeen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,000.10.

Parker-Hannifin Trading Down 2.3%

Shares of PH stock opened at $899.91 on Friday. The company has a market capitalization of $113.59 billion, a P/E ratio of 32.82, a price-to-earnings-growth ratio of 2.97 and a beta of 1.23. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The business's 50 day moving average is $956.06 and its two-hundred day moving average is $867.22. Parker-Hannifin has a twelve month low of $488.45 and a twelve month high of $1,034.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same quarter in the previous year, the firm earned $6.53 earnings per share. Parker-Hannifin's revenue for the quarter was up 9.1% compared to the same quarter last year. Equities analysts forecast that Parker-Hannifin will post 26.71 EPS for the current year.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 1,457 shares of the company's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the transaction, the vice president directly owned 2,580 shares in the company, valued at approximately $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Todd M. Leombruno sold 2,062 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares of the company's stock, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,063 shares of company stock valued at $9,891,214 in the last quarter. Insiders own 0.32% of the company's stock.

Hedge Funds Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Parker-Hannifin by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company's stock valued at $9,793,843,000 after acquiring an additional 33,606 shares during the last quarter. Procyon Advisors LLC raised its stake in Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company's stock valued at $3,843,346,000 after purchasing an additional 5,066,179 shares during the last quarter. Bank of America Corp DE lifted its holdings in Parker-Hannifin by 0.6% in the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company's stock valued at $3,451,584,000 after purchasing an additional 22,305 shares in the last quarter. Capital World Investors boosted its stake in shares of Parker-Hannifin by 0.6% during the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company's stock worth $2,286,038,000 after purchasing an additional 16,703 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Parker-Hannifin by 1.8% during the second quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company's stock worth $1,638,556,000 after buying an additional 41,221 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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