Parker-Hannifin (NYSE:PH) Earns Outperform Rating from Analysts at BMO Capital Markets

Research analysts at BMO Capital Markets assumed coverage on shares of Parker-Hannifin (NYSE:PH) in a research note issued on Friday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $1,090.00 price target on the industrial products company’s stock. BMO Capital Markets’ target price would suggest a potential upside of 21.12% from the company’s previous close.

PH has been the topic of a number of other reports. Stifel Nicolaus raised their price target on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research report on Thursday, January 29th. Seventeen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $1,000.10.

Parker-Hannifin Trading Down 2.3%

Shares of PH opened at $899.91 on Friday. Parker-Hannifin has a fifty-two week low of $488.45 and a fifty-two week high of $1,034.96. The company has a market capitalization of $113.59 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 2.97 and a beta of 1.23. The stock has a fifty day moving average of $956.06 and a two-hundred day moving average of $867.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.53 EPS. As a group, analysts forecast that Parker-Hannifin will post 26.71 EPS for the current year.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the sale, the vice president owned 2,580 shares in the company, valued at approximately $2,441,918.40. The trade was a 36.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the completion of the transaction, the chief operating officer owned 13,120 shares in the company, valued at $13,106,880. The trade was a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 10,063 shares of company stock worth $9,891,214. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently made changes to their positions in PH. JFS Wealth Advisors LLC grew its stake in Parker-Hannifin by 6.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 11 shares in the last quarter. Avion Wealth raised its position in shares of Parker-Hannifin by 35.5% in the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in shares of Parker-Hannifin by 1.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after buying an additional 11 shares during the last quarter. Inspire Advisors LLC grew its position in shares of Parker-Hannifin by 1.2% during the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after buying an additional 11 shares in the last quarter. Finally, 180 Wealth Advisors LLC grew its position in shares of Parker-Hannifin by 1.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company’s stock worth $573,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.