Stifel Nicolaus Raises Parker-Hannifin (NYSE:PH) Price Target to $1,000.00

Key Points

• Price target raised: Stifel Nicolaus lifted its Parker‑Hannifin price target to $1,000 (from $965) but kept a "hold" rating, implying only about a 1.7% upside; the MarketBeat consensus target is roughly $998.35 with most analysts rated Buy.
• Earnings beat and fundamentals: Parker‑Hannifin reported Q results of $7.65 EPS vs. $7.11 expected and revenue up 9.1% year‑over‑year; the stock trades near $983.60 with a $124.15 billion market cap.
• Insider activity: Insiders have sold 10,063 shares (~$9.89 million) over the last 90 days, leaving insiders with 0.32% ownership while institutional investors hold about 82.44% of the shares.

Parker-Hannifin (NYSE:PH - Get Free Report) had its price target lifted by analysts at Stifel Nicolaus from $965.00 to $1,000.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' price objective indicates a potential upside of 1.67% from the stock's current price.

A number of other equities research analysts also recently issued reports on the stock. Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Citigroup lifted their price target on shares of Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Morgan Stanley lifted their price target on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an "equal weight" rating in a research note on Tuesday, February 24th. Finally, KeyCorp reissued an "overweight" rating and set a $1,100.00 price target on shares of Parker-Hannifin in a report on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $998.35.

Parker-Hannifin Stock Up 0.1%

PH traded up $0.61 during trading on Friday, hitting $983.60. The stock had a trading volume of 34,798 shares, compared to its average volume of 721,967. The stock has a 50 day simple moving average of $952.05 and a two-hundred day simple moving average of $878.17. The company has a market capitalization of $124.15 billion, a PE ratio of 35.82, a PEG ratio of 3.11 and a beta of 1.25. Parker-Hannifin has a twelve month low of $538.08 and a twelve month high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same quarter in the previous year, the firm earned $6.53 earnings per share. The company's quarterly revenue was up 9.1% on a year-over-year basis. On average, research analysts predict that Parker-Hannifin will post 26.71 earnings per share for the current year.

Insider Activity

In other news, VP Dinu J. Parel sold 1,316 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the transaction, the vice president directly owned 6,534 shares in the company, valued at $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Berend Bracht sold 1,457 shares of the company's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the transaction, the vice president owned 2,580 shares of the company's stock, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 10,063 shares of company stock valued at $9,891,214. Insiders own 0.32% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. JFS Wealth Advisors LLC raised its stake in shares of Parker-Hannifin by 6.8% in the fourth quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company's stock valued at $152,000 after purchasing an additional 11 shares in the last quarter. Avion Wealth raised its stake in shares of Parker-Hannifin by 35.5% in the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company's stock valued at $36,000 after purchasing an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of Parker-Hannifin by 1.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company's stock valued at $540,000 after purchasing an additional 11 shares in the last quarter. Inspire Advisors LLC raised its stake in shares of Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company's stock valued at $807,000 after purchasing an additional 11 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its stake in shares of Parker-Hannifin by 1.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company's stock valued at $573,000 after purchasing an additional 12 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

About Parker-Hannifin

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

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