Jefferies Financial Group Issues Positive Forecast for Parker-Hannifin (NYSE:PH) Stock Price

Parker-Hannifin (NYSE:PH - Get Free Report) had its price target lifted by stock analysts at Jefferies Financial Group from $765.00 to $810.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the industrial products company's stock. Jefferies Financial Group's target price would indicate a potential upside of 16.35% from the company's previous close.

PH has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft boosted their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a research report on Friday, August 9th. UBS Group started coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They set a "buy" rating and a $842.00 target price for the company. Barclays boosted their target price on Parker-Hannifin from $703.00 to $800.00 and gave the company an "overweight" rating in a research report on Thursday. Wells Fargo & Company boosted their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Finally, StockNews.com upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $704.88.

Parker-Hannifin Trading Up 0.2 %

PH traded up $1.45 on Friday, hitting $696.16. The company had a trading volume of 371,942 shares, compared to its average volume of 499,162. The company has a market cap of $89.61 billion, a PE ratio of 31.44, a PEG ratio of 2.81 and a beta of 1.43. Parker-Hannifin has a 12-month low of $431.98 and a 12-month high of $712.42. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The business's fifty day simple moving average is $662.19 and its 200 day simple moving average is $589.65.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business posted $5.96 earnings per share. Equities research analysts expect that Parker-Hannifin will post 26.77 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares of the company's stock, valued at approximately $23,682,516.83. This represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock valued at $12,303,829 over the last 90 days. Corporate insiders own 0.39% of the company's stock.

Hedge Funds Weigh In On Parker-Hannifin

Large investors have recently made changes to their positions in the business. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin during the third quarter valued at $25,000. Bangor Savings Bank grew its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after buying an additional 31 shares during the last quarter. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin during the second quarter valued at $25,000. 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 valued at $35,000 after buying an additional 25 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the third quarter valued at $39,000. 82.44% of the stock is 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.