Parker-Hannifin (NYSE:PH) Rating Increased to Outperform at Wolfe Research

Parker-Hannifin (NYSE:PH - Get Free Report) was upgraded by equities research analysts at Wolfe Research from a "peer perform" rating to an "outperform" rating in a research report issued to clients and investors on Thursday, MarketBeat.com reports. The firm currently has a $786.00 price objective on the industrial products company's stock. Wolfe Research's price objective suggests a potential upside of 15.15% from the stock's current price.

PH has been the topic of several other reports. Wells Fargo & Company increased their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. StockNews.com raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, October 12th. Evercore ISI boosted their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a report on Monday, August 19th. Mizuho raised their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Finally, KeyCorp boosted their price objective on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $709.65.

Parker-Hannifin Trading Down 0.6 %

NYSE:PH traded down $3.82 during mid-day trading on Thursday, reaching $682.57. The company's stock had a trading volume of 527,399 shares, compared to its average volume of 634,700. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The stock has a market cap of $87.86 billion, a P/E ratio of 30.98, a P/E/G ratio of 2.81 and a beta of 1.43. The company's fifty day simple moving average is $666.67 and its two-hundred day simple moving average is $594.11. Parker-Hannifin has a twelve month low of $435.77 and a twelve month high of $712.42.

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

Insider Buying and Selling

In other news, VP Thomas C. Gentile sold 2,430 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the firm'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 owns 13,120 shares in the company, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company's stock.

Institutional Trading of Parker-Hannifin

A number of institutional investors and hedge funds have recently modified their holdings of the business. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $25,000. West Branch Capital LLC acquired a new stake in Parker-Hannifin in the third quarter worth $25,000. Bangor Savings Bank lifted its stake in Parker-Hannifin by 238.5% in 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. Prestige Wealth Management Group LLC boosted 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 acquiring an additional 25 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin during the third quarter worth about $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.