Parker-Hannifin (NYSE:PH) Stock Price Expected to Rise, KeyCorp Analyst Says

Parker-Hannifin (NYSE:PH) had its price objective increased by KeyCorp from $725.00 to $775.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective would suggest a potential upside of 9.64% from the company’s current price.

Several other research firms have also commented on PH. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a research note on Monday, November 18th. UBS Group started coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target for the company. Robert W. Baird increased their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Raymond James upped their price target on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, TD Cowen lifted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $691.40.

Parker-Hannifin Stock Up 0.6 %

Parker-Hannifin stock opened at $706.87 on Thursday. The company has a market capitalization of $90.99 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.78 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin has a fifty-two week low of $426.49 and a fifty-two week high of $711.60. The firm has a 50 day moving average price of $647.32 and a 200 day moving average price of $580.33.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the firm posted $5.96 earnings per share. The company’s revenue was up 1.2% on a year-over-year basis. Research analysts expect that Parker-Hannifin will post 26.77 earnings per share for the current year.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,927 shares of company stock valued at $12,807,811 over the last ninety days. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds have recently made changes to their positions in PH. State Street Corp increased its stake in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after buying an additional 753,143 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after acquiring an additional 564,365 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after acquiring an additional 381,285 shares during the period. World Investment Advisors LLC purchased a new position in Parker-Hannifin during the third quarter worth about $226,570,000. Finally, Mizuho Securities USA LLC lifted its position in Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after purchasing an additional 353,393 shares during the period. Institutional investors and hedge funds 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.