Mizuho Boosts Parker-Hannifin (NYSE:PH) Price Target to $715.00

Parker-Hannifin (NYSE:PH - Get Free Report) had its price target raised by analysts at Mizuho from $665.00 to $715.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an "outperform" rating on the industrial products company's stock. Mizuho's price objective points to a potential upside of 11.74% from the stock's previous close.

Several other research firms have also issued reports on PH. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Truist Financial lifted their price objective on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. TD Cowen boosted their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a "hold" rating in a research report on Wednesday, September 11th. StockNews.com raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Finally, Evercore ISI boosted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $660.57.

Parker-Hannifin Price Performance

NYSE:PH traded up $2.41 during trading hours on Thursday, reaching $639.89. 537,663 shares of the company's stock were exchanged, compared to its average volume of 638,436. The company has a market capitalization of $82.25 billion, a P/E ratio of 30.04, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43. Parker-Hannifin has a 12 month low of $362.49 and a 12 month high of $646.60. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The business's 50-day simple moving average is $603.46 and its two-hundred day simple moving average is $558.68.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds have recently bought and sold shares of PH. CVA Family Office LLC grew its position in Parker-Hannifin by 3.9% in the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company's stock valued at $269,000 after purchasing an additional 16 shares in the last quarter. Fidelis Capital Partners LLC raised its stake in Parker-Hannifin by 2.3% in the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company's stock worth $473,000 after purchasing an additional 19 shares in the last quarter. Sonoma Private Wealth LLC increased its holdings in Parker-Hannifin by 2.9% in the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company's stock valued at $421,000 after buying an additional 19 shares during the period. Harbor Investment Advisory LLC increased its holdings in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company's stock valued at $29,000 after buying an additional 20 shares during the period. Finally, GoalVest Advisory LLC grew its holdings in shares of Parker-Hannifin by 40.0% during the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 20 shares during 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.