Parker-Hannifin (NYSE:PH) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Parker-Hannifin (NYSE:PH) had its price objective boosted by analysts at Robert W. Baird from $695.00 to $710.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s target price would indicate a potential upside of 11.81% from the company’s previous close.

A number of other brokerages also recently issued reports on PH. Mizuho increased 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. Evercore ISI raised their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Barclays upped their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. KeyCorp raised their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus upped their target price on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $664.57.

Parker-Hannifin Trading Up 0.2 %

NYSE PH opened at $635.03 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $81.71 billion, a P/E ratio of 28.68, a P/E/G ratio of 2.57 and a beta of 1.43. Parker-Hannifin has a 52-week low of $395.00 and a 52-week high of $646.60. The firm has a 50-day moving average price of $615.46 and a 200 day moving average price of $565.05.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $5.96 earnings per share. Equities research analysts expect that Parker-Hannifin will post 26.67 EPS for the current year.

Insiders Place Their Bets

In related news, 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 value of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’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 completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Parker-Hannifin

Institutional investors and hedge funds have recently modified their holdings of the stock. CVA Family Office LLC boosted its stake in shares of 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 during the period. Fidelis Capital Partners LLC raised its holdings in Parker-Hannifin by 2.3% in the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 19 shares in the last quarter. Sonoma Private Wealth LLC grew its holdings in Parker-Hannifin by 2.9% during the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 19 shares in the last quarter. W Advisors LLC grew its holdings in Parker-Hannifin by 3.4% during the 3rd quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock worth $367,000 after acquiring an additional 19 shares in the last quarter. Finally, American Trust raised its stake in shares of Parker-Hannifin by 3.2% in the 1st quarter. American Trust now owns 649 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

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.