Parker-Hannifin (PH) PT Raised to $225.00 at BMO Capital Markets
Parker-Hannifin (NYSE:PH) had its price target hoisted by stock analysts at BMO Capital Markets to $225.00 in a research report issued to clients and investors on Thursday, The Fly reports. The firm currently has an “outperform” rating on the industrial products company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 11.66% from the stock’s current price.
PH has been the topic of several other reports. KeyCorp reissued an “overweight” rating and set a $185.00 target price on shares of Parker-Hannifin in a report on Saturday, September 16th. Morgan Stanley lowered Parker-Hannifin from an “overweight” rating to an “equal weight” rating and set a $188.00 target price on the stock. in a report on Monday, October 2nd. Wells Fargo & Co increased their target price on Parker-Hannifin from $181.50 to $196.00 and gave the stock a “market perform” rating in a report on Friday, October 6th. Cowen reissued a “hold” rating and set a $140.00 target price on shares of Parker-Hannifin in a report on Friday, October 6th. Finally, ValuEngine lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. Parker-Hannifin presently has a consensus rating of “Buy” and a consensus price target of $189.95.
Parker-Hannifin (NYSE PH) opened at $201.51 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. Parker-Hannifin has a 1-year low of $139.92 and a 1-year high of $201.60. The company has a market capitalization of $26,629.23, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 1.79 and a beta of 1.40.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.22. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same period in the prior year, the firm posted $1.61 EPS. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. equities research analysts predict that Parker-Hannifin will post 9.57 earnings per share for the current year.
In other news, VP Joseph R. Leonti sold 5,279 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $179.07, for a total value of $945,310.53. Following the completion of the sale, the vice president now owns 8,032 shares of the company’s stock, valued at $1,438,290.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Andrew D. Ross sold 2,056 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $192.14, for a total value of $395,039.84. Following the completion of the sale, the vice president now directly owns 5,207 shares of the company’s stock, valued at approximately $1,000,472.98. The disclosure for this sale can be found here. Insiders sold 22,495 shares of company stock valued at $4,127,941 over the last quarter. Corporate insiders own 1.12% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atlantic Trust Group LLC lifted its holdings in shares of Parker-Hannifin by 44.8% in the third quarter. Atlantic Trust Group LLC now owns 80,227 shares of the industrial products company’s stock valued at $14,041,000 after purchasing an additional 24,839 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Parker-Hannifin by 9.5% in the third quarter. Parametric Portfolio Associates LLC now owns 380,422 shares of the industrial products company’s stock valued at $66,581,000 after purchasing an additional 32,967 shares in the last quarter. AXA lifted its holdings in shares of Parker-Hannifin by 216.9% in the third quarter. AXA now owns 337,028 shares of the industrial products company’s stock valued at $58,987,000 after purchasing an additional 230,673 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Parker-Hannifin in the third quarter valued at approximately $168,000. Finally, Belpointe Asset Management LLC bought a new position in shares of Parker-Hannifin in the third quarter valued at approximately $2,149,000. 78.04% of the stock is owned by institutional investors and hedge funds.
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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.
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