Parker-Hannifin (NYSE:PH – Free Report) The price target was raised by Wells Fargo & Company from $600.00 to $640.00 in a research report published Friday morning, Benzinga reports. The brokerage house currently has an “overweight” rating on the industrial products company’s stock.
Other equities analysts have also issued reports on the company. Raymond James assumed coverage on Parker-Hannifin in a research note on Friday, June 28th. They issued an outperform rating and a $610.00 price target on the stock. Bank of America increased their price target on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a buy rating in a research note on Friday, May 17th. Argus increased their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a buy rating in a research note on Monday, May 6th. Mizuho upgraded shares of 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 28. Finally, Robert W. Baird increased their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an outperform rating in a research report on Friday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $615.43.
Check out our latest analysis on Parker-Hannifin
Parker-Hannifin shares rise 0.3%
PH opened at $569.81 on Friday. The stock has a market cap of $73.24 billion, a price-to-earnings ratio of 26.85, a price-to-earnings-growth ratio of 1.98 and a beta of 1.44. Parker-Hannifin has a 12-month low of $362.49 and a 12-month high of $576.54. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. The company has a 50-day moving average of $525.78 and a 200-day moving average of $532.03.
Parker-Hannifin (NYSE:PH – Get Free Report) last released its quarterly earnings results on Thursday, August 8. The industrial products company reported earnings per share of $6.77 for the quarter, beating analysts’ consensus estimates 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 net margin of 13.95% and a return on equity of 29.40%. Parker-Hannifin’s revenue grew 1.8% year over year. In the same quarter last year, the company reported earnings per share of $6.08. On average, analysts expect Parker-Hannifin to report earnings per share of $24.85 for the current year.
Parker-Hannifin Institutional Trading
A number of institutional investors and hedge funds have recently changed their holdings in the company. Norges Bank acquired a new stake in Parker-Hannifin in the fourth quarter valued at $665,188,000. Kodai Capital Management LP acquired a new stake in Parker-Hannifin in the fourth quarter valued at approximately $122,449,000. 1832 Asset Management LP increased its stake in Parker-Hannifin by 305.0% in the first quarter. 1832 Asset Management LP now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after acquiring an additional 231,788 shares in the last quarter. AMF Tjanstepension AB increased its stake in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after acquiring an additional 141,862 shares during the same period. Finally, Groupama Asset Management bought a new position in shares of Parker-Hannifin in the fourth quarter valued at $63,043,000. 82.44% of the shares are owned by institutional investors and hedge funds.
About Parker-Hannifin
(Get free report)
Parker-Hannifin Corporation manufactures and markets motion and control technologies and systems for various mobile, industrial and aerospace markets worldwide. The company operates in two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers seals, shields, thermal products and systems, adhesives, coatings, and noise, vibration and harshness solutions; filters, systems and diagnostic solutions to ensure the purity and removal of contaminants from fuel, air, oil, water and other fluids and gases; connectors for handling fluids and gases; and hydraulic, pneumatic and electromechanical components and systems for manufacturers and users of mobile and industrial machinery and equipment.
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