Stifel Nicolaus Boosts Parker-Hannifin (NYSE:PH) Price Target to $709.00

Parker-Hannifin (NYSE:PH - Get Free Report) had its target price hoisted by investment analysts at Stifel Nicolaus from $670.00 to $709.00 in a report released on Friday,Benzinga reports. The brokerage currently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' price objective points to a potential downside of 0.86% from the company's current price.

A number of other brokerages have also issued reports on PH. Truist Financial lowered their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Citigroup lowered their price target on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Evercore ISI upped 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. Barclays upped their target price on Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a report on Wednesday. Finally, Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $726.12.

Parker-Hannifin Trading Up 0.1%

Shares of PH traded up $0.83 during mid-day trading on Friday, reaching $715.13. 340,176 shares of the company's stock traded hands, compared to its average volume of 695,966. The stock has a market cap of $91.38 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.07 and a beta of 1.34. The stock's 50-day moving average is $672.33 and its two-hundred day moving average is $646.05. Parker-Hannifin has a 12 month low of $488.45 and a 12 month high of $720.90. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results 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 firm 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%. The company's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.51 earnings per share. Research analysts forecast that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $93,055.50. Following the transaction, the vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Parker-Hannifin

Hedge funds have recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of Parker-Hannifin in the 1st quarter valued at $27,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth about $30,000. Saudi Central Bank acquired a new stake in Parker-Hannifin during the 1st quarter worth about $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin during the 4th quarter worth about $32,000. 82.44% of the stock is owned by institutional investors and hedge funds.

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.