Brokerages Set Parker-Hannifin Co. (NYSE:PH) PT at $576.27

Shares of Parker-Hannifin Co. (NYSE:PH) have earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $576.27.

Several equities research analysts have recently commented on the stock. Truist Financial lifted their price target on shares of Parker-Hannifin from $611.00 to $621.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. KeyCorp upped their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their price target for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Stifel Nicolaus decreased their price objective on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Argus increased their target price on Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research note on Monday, May 6th.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of Parker-Hannifin stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 1,137 shares of the company’s stock, valued at $609,989.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 1,079 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the transaction, the vice president now owns 4,200 shares of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Institutional Investors Weigh In On Parker-Hannifin

Several institutional investors have recently bought and sold shares of PH. Whittier Trust Co. of Nevada Inc. boosted its holdings in Parker-Hannifin by 10.6% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 426 shares of the industrial products company’s stock worth $196,000 after purchasing an additional 41 shares during the last quarter. Everhart Financial Group Inc. lifted its position in Parker-Hannifin by 6.6% during the 4th quarter. Everhart Financial Group Inc. now owns 569 shares of the industrial products company’s stock worth $262,000 after buying an additional 35 shares in the last quarter. Mutual Advisors LLC bought a new position in shares of Parker-Hannifin in the 4th quarter valued at about $206,000. Cooper Financial Group increased its position in shares of Parker-Hannifin by 55.5% in the fourth quarter. Cooper Financial Group now owns 936 shares of the industrial products company’s stock valued at $431,000 after acquiring an additional 334 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC bought a new stake in Parker-Hannifin during the fourth quarter worth about $218,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 1.7 %

NYSE PH opened at $554.61 on Monday. The stock has a market capitalization of $71.29 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 2.02 and a beta of 1.44. Parker-Hannifin has a 52 week low of $362.49 and a 52 week high of $570.15. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The stock has a fifty day moving average of $524.66 and a 200-day moving average of $525.84.

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

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.