Stifel Nicolaus Increases Parker-Hannifin (NYSE:PH) Price Target to $691.00

Parker-Hannifin (NYSE:PH) had its price target hoisted by equities research analysts at Stifel Nicolaus from $633.00 to $691.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 9.63% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. TD Cowen boosted their price target on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Truist Financial reiterated a “buy” rating and issued a $673.00 target price (up from $621.00) on shares of Parker-Hannifin in a research report on Friday, August 9th. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Robert W. Baird raised their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $630.00.

Parker-Hannifin Price Performance

NYSE:PH traded up $0.15 during trading hours on Wednesday, hitting $630.29. The stock had a trading volume of 79,563 shares, compared to its average volume of 648,307. The firm has a market capitalization of $81.02 billion, a price-to-earnings ratio of 29.70, a P/E/G ratio of 2.54 and a beta of 1.43. Parker-Hannifin has a one year low of $362.49 and a one year high of $639.87. The company has a 50 day simple moving average of $581.81 and a two-hundred day simple moving average of $552.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $6.08 EPS. Research analysts forecast that Parker-Hannifin will post 26.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Large investors have recently modified their holdings of the stock. Addison Advisors LLC purchased a new stake in Parker-Hannifin in the second quarter worth about $25,000. Harbor Investment Advisory LLC grew its stake in Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Parker-Hannifin in the fourth quarter worth $30,000. Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin during the first quarter valued at $31,000. Finally, Fortitude Family Office LLC lifted its position in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after buying an additional 52 shares during the period. Institutional investors own 82.44% of the company’s stock.

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.