Parker-Hannifin (NYSE:PH) PT Raised to $710.00

Parker-Hannifin (NYSE:PH - Get Free Report) had its price target lifted by equities research analysts at Wells Fargo & Company from $640.00 to $710.00 in a report issued on Monday, Benzinga reports. The firm currently has an "overweight" rating on the industrial products company's stock. Wells Fargo & Company's price target points to a potential upside of 12.67% from the company's previous close.

Several other brokerages also recently issued reports on PH. Deutsche Bank Aktiengesellschaft lifted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Raymond James upped their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a research report on Wednesday, September 4th. Barclays increased their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Truist Financial reissued a "buy" rating and issued a $673.00 target price (up previously from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Finally, Evercore ISI raised their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research note on Monday, August 19th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $641.64.

Parker-Hannifin Stock Performance

NYSE PH traded down $0.54 on Monday, hitting $630.14. 369,081 shares of the company's stock were exchanged, compared to its average volume of 646,035. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The firm's 50-day moving average price is $586.92 and its two-hundred day moving average price is $554.21. The firm has a market cap of $81.08 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 2.55 and a beta of 1.43. Parker-Hannifin has a fifty-two week low of $362.49 and a fifty-two week high of $639.87.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping analysts' consensus estimates of $6.22 by $0.55. The firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm's revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.08 earnings per share. On average, research analysts expect that Parker-Hannifin will post 26.64 EPS for the current year.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company's stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the business's stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares of the company's stock, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Berend Bracht sold 850 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company's stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.03% of the company's stock.

Hedge Funds Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PH. Vanguard Group Inc. boosted its stake in shares of Parker-Hannifin by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company's stock worth $5,872,694,000 after acquiring an additional 105,475 shares in the last quarter. Boston Partners lifted its holdings in Parker-Hannifin by 4.1% in the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company's stock worth $617,878,000 after purchasing an additional 43,535 shares during the last quarter. Legal & General Group Plc boosted its position in Parker-Hannifin by 1.3% during the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company's stock worth $498,366,000 after purchasing an additional 12,615 shares during the period. AMF Tjanstepension AB grew its holdings in Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company's stock valued at $383,594,000 after purchasing an additional 141,862 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Parker-Hannifin by 11.6% in the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company's stock valued at $378,572,000 after purchasing an additional 76,629 shares during the period. 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.