Parker-Hannifin (NYSE:PH) Rating Increased to Buy at StockNews.com

Parker-Hannifin (NYSE:PH - Get Free Report) was upgraded by StockNews.com from a "hold" rating to a "buy" rating in a report released on Saturday.

A number of other research firms also recently issued reports on PH. Wells Fargo & Company increased their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Robert W. Baird lifted their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an "outperform" rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Raymond James lifted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. Finally, Evercore ISI upped their price target on Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research note on Monday, August 19th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.86.

Parker-Hannifin Trading Up 0.9 %

Shares of PH traded up $5.63 during mid-day trading on Friday, hitting $637.15. 485,506 shares of the company's stock traded hands, compared to its average volume of 640,334. 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 firm has a market capitalization of $81.90 billion, a P/E ratio of 30.03, a PEG ratio of 2.57 and a beta of 1.43. The business's 50-day moving average price is $595.82 and its 200-day moving average price is $556.88. Parker-Hannifin has a 1 year low of $362.49 and a 1 year high of $640.00.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the firm earned $6.08 EPS. The company's quarterly revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Parker-Hannifin will post 26.64 EPS for the current fiscal year.

Insider Activity at Parker-Hannifin

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

Hedge Funds Weigh In On Parker-Hannifin

Several institutional investors and hedge funds have recently bought and sold shares of PH. TD Asset Management Inc lifted its holdings in Parker-Hannifin by 152.1% during the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company's stock valued at $73,493,000 after purchasing an additional 79,774 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Parker-Hannifin by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company's stock worth $12,761,000 after buying an additional 1,802 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in Parker-Hannifin by 261.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company's stock valued at $1,397,000 after acquiring an additional 1,819 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Parker-Hannifin by 54.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company's stock valued at $9,540,000 after acquiring an additional 6,029 shares during the period. Finally, Janney Montgomery Scott LLC lifted its position in shares of Parker-Hannifin by 16.5% in the first quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company's stock valued at $23,634,000 after acquiring an additional 6,013 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

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.