Mizuho Increases Parker-Hannifin (NYSE:PH) Price Target to $715.00

Parker-Hannifin (NYSE:PH) had its target price boosted by equities researchers at Mizuho from $665.00 to $715.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Mizuho’s price objective points to a potential upside of 12.16% from the company’s current price.

Several other research analysts have also commented on PH. TD Cowen lifted their target price on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Truist Financial boosted their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Barclays raised their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Stifel Nicolaus lifted their target price on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $660.57.

Parker-Hannifin Stock Down 0.1 %

Shares of NYSE PH opened at $637.48 on Thursday. The firm has a market cap of $81.94 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.57 and a beta of 1.43. Parker-Hannifin has a 1 year low of $362.49 and a 1 year high of $646.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The stock’s 50-day simple moving average is $603.46 and its 200-day simple moving average is $558.68.

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

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the transaction, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Berend Bracht sold 850 shares of the firm’s 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 sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently bought and sold shares of PH. 1832 Asset Management L.P. lifted its holdings in shares of Parker-Hannifin by 305.0% in the first quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after purchasing an additional 231,788 shares in the last quarter. AMF Tjanstepension AB lifted its stake in Parker-Hannifin by 23.0% in the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after acquiring an additional 141,862 shares in the last quarter. Mackenzie Financial Corp boosted its position in Parker-Hannifin by 107.7% during the 2nd quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock worth $137,437,000 after acquiring an additional 140,898 shares during the period. Congress Asset Management Co. MA grew its stake in Parker-Hannifin by 503.9% during the 1st quarter. Congress Asset Management Co. MA now owns 156,196 shares of the industrial products company’s stock valued at $86,812,000 after acquiring an additional 130,331 shares in the last quarter. Finally, Swedbank AB increased its holdings in shares of Parker-Hannifin by 377.8% in the 3rd quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock valued at $99,881,000 after purchasing an additional 125,000 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.