KeyCorp Increases Parker-Hannifin (NYSE:PH) Price Target to $725.00

Parker-Hannifin (NYSE:PH) had its price objective increased by research analysts at KeyCorp from $640.00 to $725.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective would indicate a potential upside of 13.63% from the stock’s current price.

Other equities analysts have also issued reports about the company. TD Cowen boosted their price target on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research note on Wednesday, September 11th. Evercore ISI upped their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Wells Fargo & Company upped their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Barclays upped their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial upped their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $655.93.

Parker-Hannifin Trading Down 0.9 %

Shares of PH opened at $638.02 on Monday. Parker-Hannifin has a 12-month low of $362.49 and a 12-month high of $646.60. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $82.01 billion, a price-to-earnings ratio of 30.07, a P/E/G ratio of 2.57 and a beta of 1.43. The stock’s 50-day moving average price is $600.97 and its 200 day moving average price is $558.12.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the previous year, the company posted $6.08 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, research analysts predict that Parker-Hannifin will post 26.64 earnings per share for the current year.

Insider Activity

In other news, VP Berend Bracht sold 850 shares of the stock in a transaction 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 transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Berend Bracht sold 850 shares of the stock in a transaction 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 transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Institutional Trading of Parker-Hannifin

A number of large investors have recently made changes to their positions in PH. Vanguard Group Inc. increased its holdings in Parker-Hannifin by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock worth $5,872,694,000 after purchasing an additional 105,475 shares in the last quarter. Boston Partners increased its holdings in Parker-Hannifin by 4.1% during the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after purchasing an additional 43,535 shares in the last quarter. Legal & General Group Plc increased its holdings in Parker-Hannifin by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock worth $498,366,000 after purchasing an additional 12,615 shares in the last quarter. AMF Tjanstepension AB increased its holdings in Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in Parker-Hannifin by 11.6% during the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock worth $378,572,000 after purchasing an additional 76,629 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

About Parker-Hannifin

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.