Parker-Hannifin (NYSE:PH) Stock Price Expected to Rise, Citigroup Analyst Says

Parker-Hannifin (NYSE:PH - Get Free Report) had its target price raised by equities research analysts at Citigroup from $709.00 to $831.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the industrial products company's stock. Citigroup's price target points to a potential upside of 16.73% from the stock's current price.

Several other equities research analysts have also recently commented on PH. Barclays raised their target price on Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. KeyCorp raised their target price on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Argus set a $680.00 target price on Parker-Hannifin in a research note on Tuesday, May 6th. Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Finally, Truist Financial reduced their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus price target of $735.88.

Parker-Hannifin Price Performance

Shares of PH traded down $2.98 during trading hours on Monday, hitting $711.93. 166,003 shares of the company were exchanged, compared to its average volume of 693,460. The company has a market cap of $90.97 billion, a price-to-earnings ratio of 27.42, a P/E/G ratio of 3.07 and a beta of 1.34. Parker-Hannifin has a fifty-two week low of $488.45 and a fifty-two week high of $720.90. 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's fifty day moving average is $672.33 and its 200 day moving average is $645.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share 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 the consensus estimate of $4.99 billion. During the same period in the prior year, the company earned $6.51 EPS. Parker-Hannifin's revenue for the quarter 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 fiscal year.

Insider Activity

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction 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 transaction, the vice president directly owned 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.39% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Parker-Hannifin by 3.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,952 shares of the industrial products company's stock valued at $2,062,000 after purchasing an additional 97 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Parker-Hannifin by 21.4% during the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 7,911 shares of the industrial products company's stock valued at $5,526,000 after purchasing an additional 1,397 shares during the last quarter. Park Avenue Securities LLC raised its stake in Parker-Hannifin by 4.3% during the 2nd quarter. Park Avenue Securities LLC now owns 15,717 shares of the industrial products company's stock valued at $10,978,000 after purchasing an additional 642 shares during the last quarter. Trinity Wealth Management LLC acquired a new position in Parker-Hannifin during the 2nd quarter valued at $213,000. Finally, Compass Ion Advisors LLC acquired a new position in Parker-Hannifin during the 2nd quarter valued at $212,000. 82.44% of the stock is 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.

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