Parker-Hannifin (NYSE:PH) Earns Buy Rating from Analysts at Citigroup

Equities researchers at Citigroup assumed coverage on shares of Parker-Hannifin (NYSE:PH - Get Free Report) in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $795.00 price target on the industrial products company's stock. Citigroup's target price points to a potential upside of 17.29% from the company's current price.

A number of other equities research analysts also recently issued reports on the stock. Barclays lowered their price target on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. TD Cowen raised their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. KeyCorp boosted their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Friday, January 31st. Finally, Robert W. Baird boosted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin currently has an average rating of "Moderate Buy" and an average price target of $729.18.

Parker-Hannifin Stock Performance

NYSE:PH traded down $2.83 during trading hours on Friday, reaching $677.83. The stock had a trading volume of 234,406 shares, compared to its average volume of 629,835. Parker-Hannifin has a 12-month low of $492.71 and a 12-month high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a 50 day simple moving average of $665.16 and a 200 day simple moving average of $636.60. The stock has a market cap of $87.25 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 2.84 and a beta of 1.45.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, research analysts forecast that Parker-Hannifin will post 26.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. West Branch Capital LLC bought a new position in Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth about $25,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $30,000. Prestige Wealth Management Group LLC lifted its holdings in shares of Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Finally, Bank of New Hampshire bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

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.