Stifel Nicolaus Increases Parker-Hannifin (NYSE:PH) Price Target to $726.00

Key Points

• Stifel Nicolaus raised Parker-Hannifin's price target from $717.00 to $726.00, reflecting a potential downside of 0.32% from the previous close, while maintaining a "hold" rating.
• Analysts from various firms have varying price targets for Parker-Hannifin, with Mizuho setting theirs at $785.00 and Wells Fargo raising it to $800.00, indicating a general bullish sentiment.
• Parker-Hannifin reported earnings of $7.69 per share for the last quarter, surpassing estimates, and had an overall revenue increase of 1.1% year-over-year.

Parker-Hannifin (NYSE:PH - Get Free Report) had its price target boosted by analysts at Stifel Nicolaus from $717.00 to $726.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' target price indicates a potential downside of 0.32% from the company's previous close.

Other analysts have also recently issued reports about the company. Mizuho set a $785.00 price target on Parker-Hannifin in a report on Friday, May 16th. Evercore ISI upped their target price on Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Morgan Stanley upped their target price on Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Wells Fargo & Company upped their target price on Parker-Hannifin from $770.00 to $800.00 and gave the company an "overweight" rating in a report on Friday. Finally, Barclays upped their target price on Parker-Hannifin from $750.00 to $776.00 and gave the company an "overweight" rating in a report on Friday. Five equities research 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $744.59.

Parker-Hannifin Stock Performance

Shares of PH traded up $2.96 during midday trading on Friday, reaching $728.32. 210,913 shares of the stock were exchanged, compared to its average volume of 754,050. Parker-Hannifin has a twelve month low of $488.45 and a twelve month high of $745.34. 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 company has a market cap of $93.06 billion, a P/E ratio of 28.03, a PEG ratio of 2.98 and a beta of 1.37. The stock's 50 day simple moving average is $696.32 and its 200 day simple moving average is $656.13.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, topping analysts' consensus estimates of $7.08 by $0.61. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the firm earned $6.77 earnings per share. The company's revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts expect that Parker-Hannifin will post 26.71 earnings per share for the current year.

Hedge Funds Weigh In On Parker-Hannifin

A number of large investors have recently modified their holdings of the company. Aster Capital Management DIFC Ltd purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $25,000. Wealth Preservation Advisors LLC purchased a new position in Parker-Hannifin in the 1st quarter worth approximately $27,000. Saudi Central Bank purchased a new position in Parker-Hannifin in the 1st quarter worth approximately $31,000. Interchange Capital Partners LLC purchased a new position in Parker-Hannifin in the 2nd quarter worth approximately $31,000. Finally, Mpwm Advisory Solutions LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $32,000. 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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