KeyCorp Boosts Parker-Hannifin (NYSE:PH) Price Target to $790.00

Parker-Hannifin (NYSE:PH) had its price objective boosted by equities researchers at KeyCorp from $775.00 to $790.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price objective suggests a potential upside of 11.60% from the company’s previous close.

PH has been the topic of several other reports. Barclays cut their price objective on Parker-Hannifin from $800.00 to $791.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Argus raised their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 target price on the stock in a research report on Thursday, December 12th. Finally, Mizuho lifted their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $725.06.

Parker-Hannifin Price Performance

PH opened at $707.91 on Friday. The stock’s 50 day moving average price is $666.84 and its 200-day moving average price is $629.60. Parker-Hannifin has a 52-week low of $463.16 and a 52-week high of $718.44. The stock has a market capitalization of $91.12 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 2.73 and a beta of 1.45. 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 (NYSE:PH) last issued its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. On average, equities research analysts predict that Parker-Hannifin will post 26.73 EPS for the current year.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,200 shares of company stock valued at $8,595,207 over the last 90 days. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

A number of institutional investors have recently bought and sold shares of PH. Global Retirement Partners LLC increased its position in Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock worth $886,000 after buying an additional 15 shares in the last quarter. Wilkinson Global Asset Management LLC grew its stake in shares of Parker-Hannifin by 2.9% during the 4th quarter. Wilkinson Global Asset Management LLC now owns 40,223 shares of the industrial products company’s stock valued at $25,583,000 after acquiring an additional 1,130 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in Parker-Hannifin by 38.9% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,285 shares of the industrial products company’s stock worth $3,361,000 after acquiring an additional 1,479 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $40,000. Finally, Atria Wealth Solutions Inc. lifted its holdings in Parker-Hannifin by 5.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 11,184 shares of the industrial products company’s stock valued at $7,113,000 after purchasing an additional 611 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

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.