Parker-Hannifin’s (PH) Buy Rating Reiterated at Stifel Nicolaus

Parker-Hannifin (NYSE:PH)‘s stock had its “buy” rating restated by research analysts at Stifel Nicolaus in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $470.00 price objective on the industrial products company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 19.33% from the company’s current price.

PH has been the topic of a number of other research reports. Barclays boosted their target price on shares of Parker-Hannifin from $425.00 to $470.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $380.00 to $425.00 in a research report on Monday, July 10th. Mizuho upped their price objective on Parker-Hannifin from $335.00 to $415.00 in a report on Friday, July 7th. Robert W. Baird increased their price objective on Parker-Hannifin from $436.00 to $465.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Finally, Morgan Stanley boosted their target price on Parker-Hannifin from $408.00 to $448.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $436.29.

Parker-Hannifin Price Performance

NYSE PH traded up $3.85 during midday trading on Thursday, hitting $393.88. The company had a trading volume of 148,584 shares, compared to its average volume of 837,363. Parker-Hannifin has a twelve month low of $235.69 and a twelve month high of $428.16. The company has a current ratio of 0.88, a quick ratio of 0.51 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $405.75 and a 200-day moving average price of $362.62. The company has a market capitalization of $50.59 billion, a PE ratio of 24.62, a P/E/G ratio of 1.53 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $6.08 EPS for the quarter, beating the consensus estimate of $5.48 by $0.60. Parker-Hannifin had a return on equity of 29.26% and a net margin of 10.93%. The company had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same quarter in the prior year, the company earned $5.16 EPS. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. As a group, analysts anticipate that Parker-Hannifin will post 22.65 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Todd M. Leombruno sold 5,002 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.11, for a total transaction of $2,081,382.22. Following the completion of the transaction, the chief financial officer now owns 11,656 shares of the company’s stock, valued at $4,850,178.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Parker-Hannifin news, CFO Todd M. Leombruno sold 5,002 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $416.11, for a total value of $2,081,382.22. Following the completion of the transaction, the chief financial officer now directly owns 11,656 shares of the company’s stock, valued at $4,850,178.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Berend Bracht sold 863 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $419.47, for a total transaction of $362,002.61. Following the sale, the vice president now directly owns 2,700 shares in the company, valued at approximately $1,132,569. The disclosure for this sale can be found here. Insiders have sold 11,258 shares of company stock valued at $4,705,435 in the last ninety days. Insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

A number of large investors have recently bought and sold shares of the business. Cetera Advisor Networks LLC increased its holdings in Parker-Hannifin by 8.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock worth $425,000 after acquiring an additional 112 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Parker-Hannifin by 69.8% during the first quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 1,591 shares in the last quarter. Prudential PLC purchased a new stake in shares of Parker-Hannifin during the first quarter worth about $687,000. Moors & Cabot Inc. raised its position in shares of Parker-Hannifin by 270.8% during the 1st quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock worth $771,000 after purchasing an additional 1,985 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Parker-Hannifin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after buying an additional 190,889 shares in the last quarter. Institutional investors and hedge funds own 82.25% 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.