Parker-Hannifin (NYSE:PH) Research Coverage Started at Raymond James

Equities researchers at Raymond James started coverage on shares of Parker-Hannifin (NYSE:PH) in a research report issued on Friday, MarketBeat reports. The brokerage set an “outperform” rating and a $610.00 price target on the industrial products company’s stock. Raymond James’ price target points to a potential upside of 20.60% from the stock’s current price.

PH has been the topic of a number of other research reports. Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Wells Fargo & Company lowered their target price on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. TD Cowen upgraded shares of Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $300.00 to $500.00 in a research note on Friday, March 1st. Argus boosted 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. Finally, Barclays decreased their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $569.06.

Parker-Hannifin Trading Up 0.3 %

Shares of Parker-Hannifin stock opened at $505.81 on Friday. The company’s fifty day simple moving average is $531.05 and its 200-day simple moving average is $515.68. The stock has a market capitalization of $65.02 billion, a PE ratio of 23.84, a P/E/G ratio of 2.02 and a beta of 1.46. Parker-Hannifin has a 1-year low of $362.49 and a 1-year high of $570.15. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same quarter in the previous year, the company earned $5.93 EPS. Parker-Hannifin’s revenue for the quarter was up .3% on a year-over-year basis. As a group, equities analysts anticipate that Parker-Hannifin will post 24.85 earnings per share for the current year.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now directly owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now directly owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $548.85, for a total transaction of $592,209.15. Following the completion of the sale, the vice president now directly owns 4,200 shares of the company’s stock, valued at $2,305,170. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Parker-Hannifin

Several hedge funds have recently modified their holdings of the business. Keynote Financial Services LLC purchased a new stake in shares of Parker-Hannifin in the 1st quarter worth approximately $283,000. Jackson Wealth Management LLC lifted its position in shares of Parker-Hannifin by 7.7% in the 1st quarter. Jackson Wealth Management LLC now owns 4,481 shares of the industrial products company’s stock worth $2,491,000 after purchasing an additional 322 shares during the period. American Trust lifted its position in shares of Parker-Hannifin by 3.2% in the 1st quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after purchasing an additional 20 shares during the period. Cypress Asset Management Inc. TX lifted its position in shares of Parker-Hannifin by 8.6% in the 1st quarter. Cypress Asset Management Inc. TX now owns 3,199 shares of the industrial products company’s stock worth $1,781,000 after purchasing an additional 253 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its position in shares of Parker-Hannifin by 32.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 466,791 shares of the industrial products company’s stock worth $258,971,000 after purchasing an additional 115,234 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

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.