Truist Financial Increases Parker-Hannifin (NYSE:PH) Price Target to $842.00

Parker-Hannifin (NYSE:PH - Get Free Report) had its price target hoisted by equities research analysts at Truist Financial from $788.00 to $842.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Truist Financial's price target points to a potential upside of 31.71% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. UBS Group began coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They set a "buy" rating and a $842.00 target price for the company. Robert W. Baird upped their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Raymond James lifted their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 4th. KeyCorp upped their price objective on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. Finally, Stifel Nicolaus cut Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 target price on the stock. in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of "Moderate Buy" and a consensus target price of $712.82.

Parker-Hannifin Stock Down 0.7 %

Shares of NYSE PH traded down $4.53 during midday trading on Thursday, hitting $639.27. The company's stock had a trading volume of 656,139 shares, compared to its average volume of 638,217. Parker-Hannifin has a 1 year low of $440.00 and a 1 year high of $712.42. The business's fifty day simple moving average is $670.64 and its two-hundred day simple moving average is $599.30. The firm has a market capitalization of $82.29 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 2.71 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm posted $5.96 EPS. On average, equities analysts predict that Parker-Hannifin will post 26.75 EPS for the current year.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were 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 directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares of the company's stock, valued at approximately $23,682,516.83. This represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 over the last quarter. Corporate insiders own 0.39% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth $25,000. Bangor Savings Bank increased its stake in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Addison Advisors LLC purchased a new position in shares of Parker-Hannifin in the 2nd quarter worth about $25,000. Prestige Wealth Management Group LLC raised its holdings in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after purchasing an additional 25 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds 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.