Wells Fargo & Company Issues Positive Forecast for Parker-Hannifin (NYSE:PH) Stock Price

Key Points

• Wells Fargo & Company has raised its price target for Parker-Hannifin from $800 to $840, indicating a potential upside of 10.63% from the current stock price.
• Parker-Hannifin received multiple positive ratings from other analysts, with fourteen analysts giving it a Buy rating and a consensus target price of $773.67.
• The company reported a quarterly earnings surprise, with earnings per share of $7.69 that exceeded estimates of $7.08, contributing to a year-over-year revenue increase of 1.1%.

Parker-Hannifin (NYSE:PH - Get Free Report) had its price objective upped by stock analysts at Wells Fargo & Company from $800.00 to $840.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 10.63% from the stock's current price.

A number of other research firms have also recently issued reports on PH. KeyCorp boosted their price objective on shares of Parker-Hannifin from $790.00 to $810.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Cowen reiterated a "hold" rating on shares of Parker-Hannifin in a research note on Friday, August 29th. Stifel Nicolaus raised their price target on Parker-Hannifin from $717.00 to $726.00 and gave the company a "hold" rating in a report on Friday, August 8th. Wall Street Zen upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. Finally, Susquehanna began coverage on shares of Parker-Hannifin in a report on Friday, August 15th. They set a "positive" rating and a $860.00 target price for the company. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $773.67.

Parker-Hannifin Trading Down 0.5%

Shares of PH stock traded down $3.95 during trading hours on Monday, hitting $759.29. 25,158 shares of the company were exchanged, compared to its average volume of 717,579. The firm has a market cap of $96.08 billion, a P/E ratio of 28.04, a P/E/G ratio of 3.16 and a beta of 1.35. The company has a 50 day simple moving average of $747.47 and a two-hundred day simple moving average of $682.10. Parker-Hannifin has a fifty-two week low of $488.45 and a fifty-two week high of $779.77. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.71 and a current ratio of 1.19.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The industrial products company reported $7.69 earnings per share for the quarter, beating the consensus estimate of $7.08 by $0.61. The business had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.10 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.79%.The business's revenue was up 1.1% on a year-over-year basis. During the same period last year, the business earned $6.77 EPS. Parker-Hannifin has set its FY 2026 guidance at 28.400-29.400 EPS. Equities analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current year.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Angela R. Ives sold 810 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $727.36, for a total transaction of $589,161.60. Following the transaction, the vice president owned 2,798 shares of the company's stock, valued at approximately $2,035,153.28. This trade represents a 22.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert W. Malone sold 2,257 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $730.66, for a total transaction of $1,649,099.62. Following the completion of the transaction, the vice president owned 5,866 shares in the company, valued at approximately $4,286,051.56. This trade represents a 27.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,039 shares of company stock valued at $10,356,566 over the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Parker-Hannifin

A number of institutional investors have recently added to or reduced their stakes in the business. Jackson Wealth Management LLC boosted its holdings in Parker-Hannifin by 1.5% during the third quarter. Jackson Wealth Management LLC now owns 4,550 shares of the industrial products company's stock valued at $3,450,000 after purchasing an additional 68 shares in the last quarter. Aaron Wealth Advisors LLC lifted its stake in shares of Parker-Hannifin by 11.9% in the 3rd quarter. Aaron Wealth Advisors LLC now owns 480 shares of the industrial products company's stock valued at $364,000 after purchasing an additional 51 shares during the period. GAMMA Investing LLC boosted its stake in Parker-Hannifin by 7.0% during the 3rd quarter. GAMMA Investing LLC now owns 3,159 shares of the industrial products company's stock worth $2,395,000 after acquiring an additional 207 shares during the last quarter. Caldwell Trust Co bought a new stake in shares of Parker-Hannifin in the second quarter worth about $2,595,000. Finally, Valeo Financial Advisors LLC increased its stake in Parker-Hannifin by 0.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company's stock worth $1,280,000 after purchasing an additional 15 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 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.