Parker-Hannifin (NYSE:PH) Rating Reiterated by Stifel Nicolaus

Parker-Hannifin (NYSE:PH)‘s stock had its “buy” rating restated by investment analysts at Stifel Nicolaus in a note issued to investors on Tuesday, Benzinga reports. They currently have a $629.00 price target on the industrial products company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 22.82% from the stock’s previous close.

Several other analysts also recently issued reports on the company. Wells Fargo & Company decreased their price target on Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Raymond James initiated coverage on Parker-Hannifin in a research note on Friday, June 28th. They set an “outperform” rating and a $610.00 price target for the company. Truist Financial increased their target price on Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America increased their target price on Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their target price for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $569.69.

Parker-Hannifin Stock Up 0.4 %

NYSE:PH opened at $512.14 on Tuesday. The firm has a market capitalization of $65.83 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.09 and a beta of 1.44. Parker-Hannifin has a 1-year low of $362.49 and a 1-year high of $570.15. The company has a current ratio of 0.87, a quick ratio of 0.50 and a debt-to-equity ratio of 0.63. The business’s fifty day moving average price is $529.47 and its 200 day moving average price is $516.93.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm had revenue of $5.07 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the previous year, the firm earned $5.93 earnings per share. Parker-Hannifin’s quarterly revenue was up .3% on a year-over-year basis. On average, sell-side analysts forecast that Parker-Hannifin will post 24.85 earnings per share for the current fiscal year.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the sale, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Jay Reidy sold 572 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PH. Sachetta LLC bought a new position in Parker-Hannifin during the 4th quarter worth $25,000. Wetzel Investment Advisors Inc. bought a new position in Parker-Hannifin during the 4th quarter worth $26,000. First United Bank & Trust bought a new position in Parker-Hannifin during the 4th quarter worth $29,000. Harbor Investment Advisory LLC grew its holdings in Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Parker-Hannifin during the 4th quarter worth about $30,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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.