Parker-Hannifin (NYSE:PH) Given New $725.00 Price Target at Morgan Stanley

Parker-Hannifin (NYSE:PH - Get Free Report) had its price objective raised by Morgan Stanley from $700.00 to $725.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Morgan Stanley's target price suggests a potential upside of 1.49% from the stock's previous close.

PH has been the topic of several other reports. KeyCorp increased their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Evercore ISI lifted their target price on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Citigroup dropped their target price on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Wall Street Zen cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $723.82.

Parker-Hannifin Stock Performance

Shares of PH stock traded up $6.80 during trading on Wednesday, reaching $714.39. 442,374 shares of the company's stock were exchanged, compared to its average volume of 697,642. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $91.28 billion, a PE ratio of 27.51, a PEG ratio of 3.04 and a beta of 1.34. Parker-Hannifin has a twelve month low of $488.45 and a twelve month high of $720.90. The firm's fifty day moving average price is $670.41 and its 200-day moving average price is $645.62.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm's revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $6.51 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current year.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction dated 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 transaction, the vice president directly owned 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.39% of the company's stock.

Hedge Funds Weigh In On Parker-Hannifin

Large investors have recently bought and sold shares of the company. HUB Investment Partners LLC boosted its holdings in Parker-Hannifin by 15.7% in the fourth quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company's stock valued at $4,960,000 after acquiring an additional 1,057 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Parker-Hannifin by 27.2% in the first quarter. SG Americas Securities LLC now owns 31,011 shares of the industrial products company's stock valued at $18,850,000 after acquiring an additional 6,630 shares during the last quarter. Congress Wealth Management LLC DE boosted its holdings in Parker-Hannifin by 67.8% in the fourth quarter. Congress Wealth Management LLC DE now owns 45,806 shares of the industrial products company's stock valued at $29,135,000 after acquiring an additional 18,503 shares during the last quarter. Alley Investment Management Company LLC bought a new stake in Parker-Hannifin in the first quarter valued at approximately $7,996,000. Finally, Washington Trust Bank boosted its holdings in Parker-Hannifin by 3,019.5% in the fourth quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company's stock valued at $9,881,000 after acquiring an additional 15,037 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

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.