Parker-Hannifin (NYSE:PH) Stock Price Expected to Rise, Evercore ISI Analyst Says

Parker-Hannifin (NYSE:PH - Get Free Report) had its price target lifted by equities researchers at Evercore ISI from $777.00 to $824.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the industrial products company's stock. Evercore ISI's price objective suggests a potential upside of 23.53% from the company's current price.

A number of other research analysts have also recently commented on PH. Citigroup initiated coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a "buy" rating and a $795.00 price target on the stock. TD Cowen upped their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a research note on Tuesday, November 12th. UBS Group decreased their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Wells Fargo & Company upped their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Finally, Wolfe Research raised Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective on the stock in a research report on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $739.06.

Parker-Hannifin Trading Down 4.1 %

Shares of PH stock traded down $28.40 during trading on Wednesday, hitting $667.06. 850,983 shares of the stock traded hands, compared to its average volume of 659,205. The firm has a market capitalization of $85.86 billion, a P/E ratio of 27.61, a price-to-earnings-growth ratio of 2.87 and a beta of 1.45. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. Parker-Hannifin has a 52-week low of $492.71 and a 52-week high of $718.44. The firm's fifty day moving average price is $665.65 and its 200-day moving average price is $643.57.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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%. As a group, research analysts forecast that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Parker-Hannifin

Hedge funds have recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth about $32,000. Finally, Prestige Wealth Management Group LLC grew 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 worth $35,000 after purchasing an additional 25 shares during the last quarter. 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.