Parker-Hannifin (NYSE:PH) Stock Price Expected to Rise, KeyCorp Analyst Says

Parker-Hannifin (NYSE:PH) had its price target lifted by equities research analysts at KeyCorp from $725.00 to $775.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price indicates a potential upside of 9.64% from the company’s current price.

Other research analysts also recently issued research reports about the company. Raymond James lifted their price target on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Stifel Nicolaus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a report on Monday, November 18th. Argus raised their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Wells Fargo & Company raised their price target on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $691.40.

Parker-Hannifin Stock Up 0.6 %

Shares of NYSE PH opened at $706.87 on Thursday. The stock has a market capitalization of $90.99 billion, a price-to-earnings ratio of 31.93, a price-to-earnings-growth ratio of 2.78 and a beta of 1.43. Parker-Hannifin has a 52 week low of $426.49 and a 52 week high of $711.60. The firm has a 50-day moving average price of $647.32 and a 200 day moving average price of $580.33. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm earned $5.96 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin will post 26.77 EPS for the current fiscal year.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. The trade was a 27.69 % 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, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,927 shares of company stock worth $12,807,811 in the last quarter. 0.39% of the stock is owned by insiders.

Institutional Trading of Parker-Hannifin

Several large investors have recently added to or reduced their stakes in the stock. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin during the second quarter valued at approximately $25,000. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the 3rd quarter valued at $25,000. Bangor Savings Bank increased its stake in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after buying an additional 31 shares during the period. Fortitude Family Office LLC lifted its holdings in Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after buying an additional 52 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its position in 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 valued at $35,000 after buying an additional 25 shares during the last quarter. 82.44% of the stock is currently 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.