Parker-Hannifin (NYSE:PH) Sets New 1-Year High - Should You Buy?

Key Points

• Parker-Hannifin stocks reached a new **52-week high** of $745.35, trading at $739.31 with significant trading volume of **446,110 shares**.
• Analysts have raised price targets for Parker-Hannifin, with **KeyCorp** suggesting $790.00 and **Evercore ISI** at $827.00, showing strong **buy ratings** from 13 analysts.
• The company reported a quarterly earnings per share of **$6.94**, which exceeded analysts' expectations, despite a **2.2% year-over-year decline** in revenue.

Shares of Parker-Hannifin Corporation (NYSE:PH - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $745.35 and last traded at $739.31, with a volume of 446110 shares. The stock had previously closed at $738.82.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. KeyCorp boosted their target price on Parker-Hannifin from $735.00 to $790.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Barclays upped their price objective on Parker-Hannifin from $700.00 to $750.00 and gave the company an "overweight" rating in a report on Wednesday, July 9th. Morgan Stanley increased their target price on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Evercore ISI increased 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. Finally, Mizuho set a $785.00 target price on Parker-Hannifin in a report on Friday, May 16th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $739.59.

Parker-Hannifin Stock Performance

The company has a 50-day moving average of $691.28 and a 200 day moving average of $654.30. 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 firm has a market capitalization of $90.81 billion, a PE ratio of 27.37, a PEG ratio of 3.13 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping 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 business had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the business earned $6.51 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis. Equities research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Hedge Funds Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PH. First Manhattan CO. LLC. boosted its holdings in shares of Parker-Hannifin by 1.0% in the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after purchasing an additional 15 shares in the last quarter. Cascade Financial Partners LLC boosted its holdings in shares of Parker-Hannifin by 3.1% in the 1st quarter. Cascade Financial Partners LLC now owns 498 shares of the industrial products company's stock worth $303,000 after purchasing an additional 15 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Parker-Hannifin by 0.8% in the 1st 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 boosted its holdings in shares of Parker-Hannifin by 3.6% in the 2nd 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 in the last quarter. Finally, Bingham Private Wealth LLC boosted its holdings in shares of Parker-Hannifin by 3.3% in the 2nd quarter. Bingham Private Wealth LLC now owns 472 shares of the industrial products company's stock worth $330,000 after purchasing an additional 15 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other 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.