Parker-Hannifin (NYSE:PH - Get Free Report) had its price target upped by investment analysts at Barclays from $700.00 to $750.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. Barclays's price target points to a potential upside of 4.88% from the stock's current price.
Several other research analysts have also recently issued reports on the company. Evercore ISI lifted their target price on Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Citigroup cut their target price on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus lifted their target price on Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research report on Monday, June 2nd. Wall Street Zen cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Finally, Morgan Stanley boosted their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus target price of $726.12.
Get Our Latest Stock Report on PH
Parker-Hannifin Stock Up 0.1%
Parker-Hannifin stock traded up $0.83 during mid-day trading on Wednesday, reaching $715.13. The stock had a trading volume of 340,176 shares, compared to its average volume of 695,966. The firm has a market capitalization of $91.38 billion, a PE ratio of 27.54, a price-to-earnings-growth ratio of 3.07 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 fifty-two week low of $488.45 and a fifty-two week high of $720.90. The stock's 50-day simple moving average is $672.33 and its 200-day simple moving average is $646.05.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. Parker-Hannifin's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.51 earnings per share. On average, sell-side analysts forecast that Parker-Hannifin will post 26.71 EPS for the current fiscal year.
Insider Activity at Parker-Hannifin
In other news, VP Jay Reidy sold 150 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in PH. Aster Capital Management DIFC Ltd bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $25,000. Wealth Preservation Advisors LLC bought a new stake in shares of Parker-Hannifin during the 1st quarter valued at $27,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $30,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at $32,000. Finally, Saudi Central Bank bought a new stake in shares of Parker-Hannifin during the 1st quarter valued at $31,000. Hedge funds and other institutional investors 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.
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