Parker-Hannifin (NYSE:PH) PT Raised to $640.00 at KeyCorp

Parker-Hannifin (NYSE:PH) had its price objective boosted by equities research analysts at KeyCorp from $575.00 to $640.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target points to a potential upside of 16.33% from the stock’s current price.

Several other research firms also recently issued reports on PH. Truist Financial started coverage on Parker-Hannifin in a report on Thursday, March 14th. They set a “buy” rating and a $602.00 price objective on the stock. Evercore ISI boosted their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $300.00 to $500.00 in a report on Friday, March 1st. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $515.38.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $550.17 on Thursday. Parker-Hannifin has a twelve month low of $309.89 and a twelve month high of $570.15. The company has a current ratio of 0.90, a quick ratio of 0.49 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $70.65 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 2.03 and a beta of 1.52. The firm has a 50-day moving average of $537.77 and a two-hundred day moving average of $466.88.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the prior year, the company earned $4.76 EPS. Parker-Hannifin’s revenue was up 3.1% on a year-over-year basis. As a group, analysts expect that Parker-Hannifin will post 24.3 earnings per share for the current fiscal year.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Parker-Hannifin news, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $6,693,299.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark J. Hart sold 5,197 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $502.94, for a total value of $2,613,779.18. Following the sale, the executive vice president now directly owns 7,063 shares of the company’s stock, valued at approximately $3,552,265.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,079 shares of company stock valued at $6,099,566. 1.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds have recently modified their holdings of PH. Cetera Advisor Networks LLC raised its stake in shares of Parker-Hannifin by 8.1% in the first quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock valued at $425,000 after purchasing an additional 112 shares in the last quarter. Panagora Asset Management Inc. raised its stake in shares of Parker-Hannifin by 69.8% in the first quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock valued at $1,098,000 after purchasing an additional 1,591 shares in the last quarter. Prudential PLC acquired a new position in shares of Parker-Hannifin in the first quarter valued at $687,000. Moors & Cabot Inc. raised its stake in shares of Parker-Hannifin by 270.8% in the first quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 1,985 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Parker-Hannifin by 2.0% in the first quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after purchasing an additional 190,889 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.