Parker-Hannifin (NYSE:PH) PT Raised to $590.00

Parker-Hannifin (NYSE:PH) had its price objective boosted by analysts at Argus from $550.00 to $590.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Argus’ price objective suggests a potential upside of 7.15% from the company’s current price.

A number of other equities research analysts have also commented on PH. KeyCorp upped their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Mizuho lifted their price target on shares of Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research note on Friday. Evercore ISI upped their price target on shares of Parker-Hannifin from $505.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 20th. TD Cowen raised shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $300.00 to $500.00 in a report on Friday, March 1st. Finally, Barclays lowered their price target on shares of Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a report on Friday. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $539.56.

Parker-Hannifin Price Performance

PH stock traded up $14.46 on Monday, reaching $550.64. The company had a trading volume of 127,629 shares, compared to its average volume of 600,658. Parker-Hannifin has a 1 year low of $319.14 and a 1 year high of $570.15. The company has a market cap of $70.71 billion, a P/E ratio of 25.91, a PEG ratio of 1.94 and a beta of 1.51. 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 company’s fifty day moving average is $544.96 and its 200 day moving average is $483.92.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. Parker-Hannifin’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.93 EPS. On average, research analysts forecast that Parker-Hannifin will post 24.62 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of Parker-Hannifin in the 3rd quarter worth $25,000. Sachetta LLC purchased a new stake in Parker-Hannifin in the 4th quarter worth approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $26,000. Baystate Wealth Management LLC lifted its holdings in Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares in the last quarter. Finally, First United Bank & Trust bought a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $29,000. 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.