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.

ILLEGAL ACTIVITY NOTICE: This story was posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another publication, it was illegally stolen and republished in violation of U.S. & international trademark & copyright law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/01/18/parker-hannifin-ph-price-target-raised-to-235-00-at-wells-fargo-co.html.

About Parker-Hannifin

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 (NYSE:PH)

Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.