Parker-Hannifin (NYSE:PH) PT Raised to $611.00

Parker-Hannifin (NYSE:PH) had its price target upped by analysts at Truist Financial from $602.00 to $611.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective suggests a potential upside of 13.95% from the stock’s current price.

Several other analysts have also issued reports on PH. Evercore ISI boosted their target price on shares of Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Barclays lowered their target price on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a research report on Friday. Mizuho upped their price target on Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Stifel Nicolaus lifted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $523.94.

Parker-Hannifin Stock Up 1.0 %

PH opened at $536.18 on Friday. Parker-Hannifin has a twelve month low of $319.14 and a twelve month high of $570.15. The company has a quick ratio of 0.49, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The firm has a 50 day moving average price of $544.96 and a 200-day moving average price of $482.63. The stock has a market capitalization of $68.85 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.93 and a beta of 1.51.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the prior year, the firm earned $5.93 EPS. The company’s revenue was up .3% compared to the same quarter last year. Equities research analysts forecast that Parker-Hannifin will post 24.62 earnings per share for the current year.

Hedge Funds Weigh In On Parker-Hannifin

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sapient Capital LLC bought a new stake in Parker-Hannifin during the fourth quarter worth approximately $1,392,000. abrdn plc lifted its position in Parker-Hannifin by 57.8% in the fourth quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock worth $25,247,000 after buying an additional 20,073 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $3,305,000. 17 Capital Partners LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth about $2,271,000. Finally, HMS Capital Management LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter worth about $1,225,000. 82.44% of the stock is owned by institutional investors.

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.