Parker-Hannifin (NYSE:PH) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Parker-Hannifin (NYSE:PH) had its target price raised by Robert W. Baird from $695.00 to $710.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the industrial products company’s stock. Robert W. Baird’s price objective indicates a potential upside of 11.81% from the company’s current price.

Several other research analysts have also weighed in on the company. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Evercore ISI raised their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Barclays boosted their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $664.57.

Parker-Hannifin Stock Up 0.2 %

Shares of NYSE:PH opened at $635.03 on Friday. The business has a fifty day moving average of $615.46 and a two-hundred day moving average of $565.05. The company has a quick ratio of 0.55, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $81.71 billion, a P/E ratio of 28.68, a PEG ratio of 2.57 and a beta of 1.43. Parker-Hannifin has a 52-week low of $395.00 and a 52-week high of $646.60.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.96 earnings per share. On average, research analysts expect that Parker-Hannifin will post 26.67 earnings per share for the current year.

Insider Activity

In related news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin during the third quarter worth about $25,000. Bangor Savings Bank increased its stake in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin in the second quarter valued at about $25,000. Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin during the third quarter worth about $39,000. Finally, Fortitude Family Office LLC increased its position in Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 52 shares during the period. Hedge funds and other institutional investors 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.