Barclays Issues Positive Forecast for Parker-Hannifin (NYSE:PH) Stock Price

Parker-Hannifin (NYSE:PH - Get Free Report) had its target price increased by research analysts at Barclays from $700.00 to $750.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the industrial products company's stock. Barclays's target price indicates a potential upside of 5.95% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, May 6th. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $670.00 to $770.00 and gave the company an "overweight" rating in a research report on Tuesday, July 1st. Evercore ISI increased their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Citigroup dropped their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $723.82.

Parker-Hannifin Stock Performance

Shares of PH traded up $0.99 during trading hours on Wednesday, reaching $707.91. 377,867 shares of the company traded hands, compared to its average volume of 698,444. The stock's fifty day moving average is $666.26 and its 200 day moving average is $644.71. The stock has a market cap of $90.46 billion, a P/E ratio of 27.26, a price-to-earnings-growth ratio of 3.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. 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 announced its quarterly earnings data 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 business had revenue of $4.96 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.51 earnings per share. Equities research analysts anticipate that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction that occurred on 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 sale, the vice president owned 2,083 shares of the company's stock, 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 filing with the SEC, which is accessible through this link. Insiders own 0.39% of the company's stock.

Institutional Trading of Parker-Hannifin

Hedge funds have recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of Parker-Hannifin during the first quarter valued at approximately $27,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $30,000. Saudi Central Bank bought a new stake in shares of Parker-Hannifin during the first quarter valued at approximately $31,000. Finally, Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.44% of the company's stock.

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.