Parker-Hannifin (NYSE:PH) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company raised its price target for Parker-Hannifin (NYSE:PH) from $770.00 to $800.00, indicating a potential upside of 9.84% based on the current stock price.
• Thirteen analysts have given Parker-Hannifin a buy rating, contributing to an average rating of "Moderate Buy" with a consensus target price of $744.59.
• Parker-Hannifin recently reported quarterly earnings of $7.69 per share, exceeding analyst estimates and reflecting a year-over-year revenue increase of 1.1%.

Parker-Hannifin (NYSE:PH - Free Report) had its price objective boosted by Wells Fargo & Company from $770.00 to $800.00 in a research note issued to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the industrial products company's stock.

PH has been the subject of several other reports. Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. KeyCorp raised their price target on shares of Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a report on Friday. Morgan Stanley raised their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 16th. Finally, Stifel Nicolaus boosted their price objective on shares of Parker-Hannifin from $709.00 to $717.00 and gave the stock a "hold" rating in a research note on Monday, July 21st. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus target price of $763.00.

Parker-Hannifin Stock Up 0.3%

Shares of PH stock traded up $2.32 during trading on Friday, hitting $727.68. 819,698 shares of the company were exchanged, compared to its average volume of 660,415. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.19. The firm has a market capitalization of $92.98 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 3.11 and a beta of 1.37. The business's 50-day simple moving average is $697.59 and its 200 day simple moving average is $656.35. Parker-Hannifin has a twelve month low of $488.45 and a twelve month high of $745.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The industrial products company reported $7.69 EPS for the quarter, topping the consensus estimate of $7.08 by $0.61. The business had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $6.77 earnings per share. As a group, analysts forecast that Parker-Hannifin will post 26.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Parker-Hannifin

Several large investors have recently bought and sold shares of the stock. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin in the 4th quarter valued at $25,000. Wealth Preservation Advisors LLC acquired a new position in Parker-Hannifin in the first quarter valued at about $27,000. Saudi Central Bank acquired a new position in Parker-Hannifin in the first quarter valued at about $31,000. Interchange Capital Partners LLC acquired a new position in Parker-Hannifin in the second quarter valued at about $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at about $32,000. 82.44% of the stock is currently 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.