Parker-Hannifin Co. (NYSE:PH) Receives $576.27 Consensus Price Target from Brokerages

Parker-Hannifin Co. (NYSE:PH) has been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $576.27.

Several brokerages have recently commented on PH. Barclays lowered their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Bank of America increased their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company lowered their price objective on Parker-Hannifin from $630.00 to $600.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Argus upped their target price on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Truist Financial upped their target price on Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Institutional Trading of Parker-Hannifin

Several large investors have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Parker-Hannifin by 10.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 426 shares of the industrial products company’s stock valued at $196,000 after purchasing an additional 41 shares during the last quarter. Everhart Financial Group Inc. raised its holdings in Parker-Hannifin by 6.6% in the 4th quarter. Everhart Financial Group Inc. now owns 569 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 35 shares during the last quarter. Mutual Advisors LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $206,000. Cooper Financial Group raised its holdings in Parker-Hannifin by 55.5% in the 4th quarter. Cooper Financial Group now owns 936 shares of the industrial products company’s stock worth $431,000 after acquiring an additional 334 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC purchased a new position in Parker-Hannifin in the 4th quarter worth approximately $218,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Up 1.7 %

PH stock opened at $554.61 on Monday. The stock’s 50 day simple moving average is $524.66 and its 200 day simple moving average is $526.78. Parker-Hannifin has a fifty-two week low of $362.49 and a fifty-two week high of $570.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The company has a market cap of $71.29 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 2.12 and a beta of 1.44.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The business had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the business earned $5.93 EPS. On average, research analysts expect that Parker-Hannifin will post 24.85 earnings per share for the current fiscal year.

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.