Parker-Hannifin (PH) Price Target Raised to $235.00 at Wells Fargo & Co
Parker-Hannifin (NYSE:PH) had its price objective hoisted by stock analysts at Wells Fargo & Co from $205.00 to $235.00 in a note issued to investors on Thursday. The firm presently has an “outperform” rating on the industrial products company’s stock. Wells Fargo & Co’s price target indicates a potential upside of 11.48% from the company’s previous close.
PH has been the topic of several other reports. Credit Suisse Group upped their price objective on shares of Parker-Hannifin from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. BMO Capital Markets reaffirmed a “buy” rating and set a $200.00 price objective on shares of Parker-Hannifin in a report on Friday, October 20th. Citigroup upped their price objective on shares of Parker-Hannifin from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Robert W. Baird reissued a “hold” rating and issued a $183.00 price target on shares of Parker-Hannifin in a report on Friday, October 13th. Finally, Zacks Investment Research raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $198.00 price target on the stock in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $198.21.
Parker-Hannifin (NYSE:PH) traded up $0.89 during midday trading on Thursday, hitting $210.80. 821,200 shares of the stock traded hands, compared to its average volume of 882,900. Parker-Hannifin has a 12-month low of $141.06 and a 12-month high of $212.80. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44. The company has a market cap of $28,100.00, a price-to-earnings ratio of 27.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.40.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The company had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 earnings per share. equities analysts forecast that Parker-Hannifin will post 9.61 EPS for the current fiscal year.
In related news, VP Andrew D. Ross sold 2,056 shares of the firm’s stock in a transaction on Friday, December 8th. The stock was 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 owns 5,207 shares of the company’s stock, valued at $1,000,472.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph R. Leonti sold 5,279 shares of the firm’s stock in a transaction on 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 directly owns 8,032 shares of the company’s stock, valued at approximately $1,438,290.24. The disclosure for this sale can be found here. Insiders sold 22,495 shares of company stock worth $4,127,941 in the last 90 days. Company insiders own 1.12% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Emerald Advisers Inc. PA purchased a new stake in Parker-Hannifin in the third quarter worth $1,527,000. Cubist Systematic Strategies LLC lifted its stake in Parker-Hannifin by 154.0% in the third quarter. Cubist Systematic Strategies LLC now owns 6,820 shares of the industrial products company’s stock worth $1,194,000 after acquiring an additional 4,135 shares during the period. IFM Investors Pty Ltd purchased a new stake in Parker-Hannifin in the third quarter worth $713,000. Koch Industries Inc. purchased a new stake in Parker-Hannifin in the second quarter worth $521,000. Finally, Private Advisor Group LLC lifted its position in Parker-Hannifin by 58.2% during the third quarter. Private Advisor Group LLC now owns 5,554 shares of the industrial products company’s stock valued at $984,000 after buying an additional 2,043 shares during the period. 78.05% of the stock is owned by institutional investors.
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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