Parker-Hannifin (NYSE:PH) Price Target Raised to $725.00

Parker-Hannifin (NYSE:PH - Get Free Report) had its price target hoisted by stock analysts at Morgan Stanley from $700.00 to $725.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "equal weight" rating on the industrial products company's stock. Morgan Stanley's target price would suggest a potential upside of 2.41% from the stock's previous close.

Other research analysts also recently issued research reports about the stock. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research note on Friday, May 16th. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research report on Monday, June 2nd. Evercore ISI raised their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Finally, Barclays cut their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $723.82.

Parker-Hannifin Price Performance

PH stock traded up $0.99 during trading on Wednesday, hitting $707.91. 377,867 shares of the company's stock traded hands, compared to its average volume of 697,322. Parker-Hannifin has a 52 week low of $488.45 and a 52 week high of $720.90. 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 business has a fifty day simple moving average of $666.26 and a 200 day simple moving average of $644.71. The stock has a market capitalization of $90.46 billion, a price-to-earnings ratio of 27.26, a P/E/G ratio of 3.05 and a beta of 1.34.

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

Insider Buying and Selling

In other Parker-Hannifin 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 value of $93,055.50. Following the transaction, the vice president owned 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $1,106,132,000. GAMMA Investing LLC increased its stake in shares of Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock worth $1,054,870,000 after buying an additional 1,732,791 shares during the period. Nuveen LLC purchased a new stake in shares of Parker-Hannifin during the first quarter worth approximately $933,089,000. Royal Bank of Canada increased its stake in shares of Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after buying an additional 1,137,564 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company's stock worth $1,485,042,000 after buying an additional 842,262 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

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.