Parker-Hannifin Corporation (NYSE:PH) had its target price raised by investment analysts at Citigroup Inc. from $175.00 to $185.00 in a note issued to investors on Friday. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 2.73% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. KeyCorp reissued a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin Corporation in a research report on Thursday. Zacks Investment Research raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $198.00 price target on the stock in a research report on Tuesday. ValuEngine cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Cowen and Company reissued a “hold” rating and set a $140.00 price target on shares of Parker-Hannifin Corporation in a research report on Friday, October 6th. Finally, Wells Fargo & Company boosted their price target on shares of Parker-Hannifin Corporation from $181.50 to $196.00 and gave the company a “market perform” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $178.44.

Shares of Parker-Hannifin Corporation (PH) traded up 0.87% during trading on Friday, hitting $181.65. 190,786 shares of the company were exchanged. The firm’s 50-day moving average price is $169.91 and its 200 day moving average price is $162.27. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $181.94. The firm has a market capitalization of $24.18 billion, a PE ratio of 25.06 and a beta of 1.42.

Parker-Hannifin Corporation (NYSE:PH) last released its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.14. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 earnings per share. On average, equities research analysts expect that Parker-Hannifin Corporation will post $9.11 earnings per share for the current fiscal year.

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In other Parker-Hannifin Corporation news, Director Joseph Scaminace sold 500 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $158.35, for a total value of $79,175.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Joseph R. Leonti sold 408 shares of the stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total transaction of $65,565.60. Following the completion of the transaction, the vice president now owns 7,318 shares in the company, valued at $1,176,002.60. The disclosure for this sale can be found here. Insiders sold 5,389 shares of company stock worth $878,913 over the last quarter. 1.12% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in PH. Neuberger Berman Group LLC increased its stake in Parker-Hannifin Corporation by 1.0% in the first quarter. Neuberger Berman Group LLC now owns 8,588 shares of the industrial products company’s stock valued at $1,377,000 after purchasing an additional 82 shares during the last quarter. Citizens Financial Group Inc. RI increased its stake in Parker-Hannifin Corporation by 132,744.1% in the first quarter. Citizens Financial Group Inc. RI now owns 45,167 shares of the industrial products company’s stock valued at $7,242,000 after purchasing an additional 45,133 shares during the last quarter. Teachers Advisors LLC increased its stake in Parker-Hannifin Corporation by 3.3% in the first quarter. Teachers Advisors LLC now owns 845,658 shares of the industrial products company’s stock valued at $135,576,000 after purchasing an additional 27,245 shares during the last quarter. Royce & Associates LP increased its stake in Parker-Hannifin Corporation by 17.0% in the first quarter. Royce & Associates LP now owns 58,500 shares of the industrial products company’s stock valued at $9,379,000 after purchasing an additional 8,500 shares during the last quarter. Finally, Stephens Inc. AR increased its stake in Parker-Hannifin Corporation by 4.0% in the first quarter. Stephens Inc. AR now owns 2,532 shares of the industrial products company’s stock valued at $406,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 79.72% of the company’s stock.

About Parker-Hannifin Corporation

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

Analyst Recommendations for Parker-Hannifin Corporation (NYSE:PH)

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