Stifel Nicolaus Has Lowered Expectations for Parker-Hannifin (NYSE:PH) Stock Price

Parker-Hannifin (NYSE:PH - Get Free Report) had its price target reduced by equities researchers at Stifel Nicolaus from $691.00 to $564.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the industrial products company's stock. Stifel Nicolaus' price objective points to a potential upside of 0.50% from the stock's current price.

Several other research firms have also issued reports on PH. KeyCorp cut their price target on shares of Parker-Hannifin from $790.00 to $690.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. UBS Group reduced their price target on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Truist Financial lowered their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Finally, Citigroup assumed coverage on Parker-Hannifin in a research report on Friday, February 7th. They issued a "buy" rating and a $795.00 price objective for the company. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $705.35.

Parker-Hannifin Trading Up 0.3 %

PH traded up $1.76 during trading hours on Monday, reaching $561.21. 558,227 shares of the company's stock traded hands, compared to its average volume of 712,584. The firm has a market capitalization of $72.24 billion, a PE ratio of 23.23, a PEG ratio of 2.85 and a beta of 1.39. Parker-Hannifin has a 52-week low of $488.45 and a 52-week high of $718.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $621.56 and a 200 day moving average price of $648.89.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating 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, sell-side analysts predict that Parker-Hannifin will post 26.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Parker-Hannifin

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin in the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $25,000. Millstone Evans Group LLC acquired a new stake 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, Bank of New Hampshire acquired a new position in Parker-Hannifin in the 4th quarter valued at about $35,000. 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.