Parker-Hannifin (NYSE:PH) Stock Rating Upgraded by Wall Street Zen

Parker-Hannifin (NYSE:PH) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

Several other research analysts have also issued reports on the company. Susquehanna reissued a “positive” rating and issued a $1,000.00 target price on shares of Parker-Hannifin in a research report on Wednesday, November 12th. Industrial Alliance Securities set a $1,032.00 target price on Parker-Hannifin in a report on Thursday, January 29th. Morgan Stanley reiterated a “positive” rating on shares of Parker-Hannifin in a research note on Wednesday, January 14th. KeyCorp reaffirmed an “overweight” rating and issued a $1,100.00 price objective on shares of Parker-Hannifin in a report on Friday. Finally, BNP Paribas Exane initiated coverage on Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 target price on the stock. Seventeen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $990.47.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $963.94 on Wednesday. Parker-Hannifin has a 1-year low of $488.45 and a 1-year high of $972.80. The firm has a market cap of $121.67 billion, a P/E ratio of 35.15, a P/E/G ratio of 3.25 and a beta of 1.25. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average of $901.84 and a 200-day moving average of $810.94.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.53 EPS. Sell-side analysts expect that Parker-Hannifin will post 26.71 EPS for the current year.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 2,488 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $894.81, for a total value of $2,226,287.28. Following the completion of the sale, the chief operating officer owned 13,120 shares in the company, valued at approximately $11,739,907.20. This represents a 15.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Rachid Bendali sold 1,437 shares of the business’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $852.99, for a total value of $1,225,746.63. Following the completion of the transaction, the vice president owned 2,714 shares in the company, valued at $2,315,014.86. The trade was a 34.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 7,432 shares of company stock valued at $6,484,116. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Institutional investors have recently added to or reduced their stakes in the stock. Procyon Advisors LLC increased its holdings in shares of Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares during the last quarter. Norges Bank purchased a new position in Parker-Hannifin in the second quarter worth about $1,352,509,000. Canada Pension Plan Investment Board increased its stake in Parker-Hannifin by 115.7% during the second quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after acquiring an additional 197,317 shares during the last quarter. Capital World Investors raised its position in Parker-Hannifin by 7.0% during the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after purchasing an additional 169,073 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Parker-Hannifin by 9.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock worth $1,145,199,000 after purchasing an additional 136,359 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.