Parker-Hannifin (NYSE:PH - Get Free Report) had its price target raised by equities researchers at Morgan Stanley from $700.00 to $725.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Morgan Stanley's price objective would indicate a potential upside of 1.23% from the company's current price.
PH has been the subject of several other research reports. KeyCorp upped their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Truist Financial reduced their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Stifel Nicolaus raised their target price on Parker-Hannifin from $630.00 to $670.00 and gave the stock a "hold" rating in a research report on Monday, June 2nd. Mizuho set a $785.00 price target on Parker-Hannifin in a research report on Friday, May 16th. Finally, Wells Fargo & Company increased their price objective on Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $723.82.
Check Out Our Latest Report on Parker-Hannifin
Parker-Hannifin Price Performance
Shares of NYSE PH traded up $8.61 during mid-day trading on Wednesday, reaching $716.20. The company had a trading volume of 191,820 shares, compared to its average volume of 696,464. The company has a 50-day moving average price of $668.34 and a two-hundred day moving average price of $645.14. The stock has a market cap of $91.52 billion, a PE ratio of 27.58, a P/E/G ratio of 3.04 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. Parker-Hannifin has a 1-year low of $488.45 and a 1-year high of $720.90.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly 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. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The firm had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the business posted $6.51 EPS. Parker-Hannifin's revenue was down 2.2% on a year-over-year basis. On average, equities analysts anticipate that Parker-Hannifin will post 26.71 earnings per share for the current year.
Insider Activity
In other news, VP Jay Reidy sold 150 shares of the company'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 completion of the transaction, the vice president owned 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.39% of the company's stock.
Institutional Trading of Parker-Hannifin
Institutional investors have recently modified their holdings of the company. First Manhattan CO. LLC. boosted its stake in Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after buying an additional 15 shares in the last quarter. Cascade Financial Partners LLC increased its stake in Parker-Hannifin by 3.1% in the first quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock valued at $303,000 after acquiring an additional 15 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in Parker-Hannifin by 0.8% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,814 shares of the industrial products company's stock worth $1,103,000 after purchasing an additional 15 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock worth $300,000 after purchasing an additional 15 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Parker-Hannifin by 0.5% during the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock valued at $1,759,000 after purchasing an additional 15 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.
About Parker-Hannifin
(
Get Free Report)
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.
See Also

Before you consider Parker-Hannifin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Parker-Hannifin wasn't on the list.
While Parker-Hannifin currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.