Barclays Has Lowered Expectations for Parker-Hannifin (NYSE:PH) Stock Price

Parker-Hannifin (NYSE:PH) had its price objective decreased by equities research analysts at Barclays from $800.00 to $791.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. Barclays‘s target price indicates a potential upside of 11.74% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Truist Financial increased their price objective on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Mizuho lifted their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Wells Fargo & Company reduced their target price on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Finally, KeyCorp boosted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $725.06.

Parker-Hannifin Stock Up 0.6 %

PH stock opened at $707.91 on Friday. Parker-Hannifin has a 1-year low of $463.16 and a 1-year high of $718.44. The stock has a market cap of $91.12 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $666.84 and its 200 day moving average is $629.60.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Sell-side analysts predict that Parker-Hannifin will post 26.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,200 shares of company stock worth $8,595,207. 0.39% of the stock is owned by corporate insiders.

Institutional Trading of Parker-Hannifin

Several hedge funds and other institutional investors have recently made changes to their positions in PH. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin in the third quarter worth $25,000. Bangor Savings Bank raised its position in shares of Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake 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 worth $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire purchased a new stake in Parker-Hannifin during the 4th quarter valued at about $35,000. Finally, Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin during the 3rd quarter valued at about $39,000. Hedge funds and other institutional investors 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.