Parker-Hannifin (NYSE:PH) Price Target Raised to $1,269.00 at Truist Financial

Parker-Hannifin (NYSE:PH) had its price objective hoisted by analysts at Truist Financial from $1,147.00 to $1,269.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price target would suggest a potential upside of 31.50% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Citigroup reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Monday, June 8th. Wells Fargo & Company dropped their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a report on Tuesday, May 26th. JPMorgan Chase & Co. cut their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Mizuho set a $1,050.00 price target on Parker-Hannifin in a report on Friday, May 1st. Finally, Evercore set a $1,064.00 price objective on Parker-Hannifin in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,026.86.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $965.05 on Thursday. The stock’s 50 day moving average is $907.41 and its 200 day moving average is $926.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. The firm has a market cap of $121.68 billion, a P/E ratio of 35.60, a P/E/G ratio of 2.84 and a beta of 1.14. Parker-Hannifin has a one year low of $692.02 and a one year high of $1,034.96.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, beating analysts’ consensus estimates of $7.84 by $0.33. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the firm posted $6.94 EPS. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, research analysts expect that Parker-Hannifin will post 31.26 EPS for the current year.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds and other institutional investors have recently bought and sold shares of PH. Norges Bank acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $1,756,230,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $185,532,000. Focus Partners Wealth increased its position in Parker-Hannifin by 1,535.3% in the 4th quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company’s stock valued at $194,106,000 after buying an additional 207,495 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Parker-Hannifin by 119.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company’s stock valued at $305,032,000 after buying an additional 185,367 shares in the last quarter. Finally, Capital World Investors raised its stake in Parker-Hannifin by 7.0% during the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock worth $1,959,166,000 after buying an additional 169,073 shares during the period. 82.44% of the stock is owned by institutional investors.

About Parker-Hannifin

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.