Parker-Hannifin (NYSE:PH) Given Buy Rating at Stifel Nicolaus

Parker-Hannifin (NYSE:PH)‘s stock had its “buy” rating restated by investment analysts at Stifel Nicolaus in a report released on Tuesday, Benzinga reports. They presently have a $629.00 price target on the industrial products company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 24.58% from the company’s current price.

A number of other equities research analysts also recently commented on PH. Argus lifted their target price on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. KeyCorp raised their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Raymond James started coverage on Parker-Hannifin in a research report on Friday. They set an “outperform” rating and a $610.00 price target on the stock. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and upped their target price for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Finally, Truist Financial lifted their price target on Parker-Hannifin from $611.00 to $621.00 and gave the company a “buy” rating in a research report on Tuesday. Four equities 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, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $569.69.

Parker-Hannifin Stock Up 0.8 %

Shares of Parker-Hannifin stock traded up $3.89 during trading on Tuesday, reaching $504.90. The company’s stock had a trading volume of 249,557 shares, compared to its average volume of 653,311. Parker-Hannifin has a 1-year low of $362.49 and a 1-year high of $570.15. The company has a 50-day simple moving average of $531.05 and a two-hundred day simple moving average of $516.21. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. The company has a market cap of $64.90 billion, a price-to-earnings ratio of 23.83, a P/E/G ratio of 2.09 and a beta of 1.44.

Parker-Hannifin (NYSE:PH) last posted 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 firm had revenue of $5.07 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The company’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.93 earnings per share. As a group, equities analysts forecast that Parker-Hannifin will post 24.85 earnings per share for the current year.

Insider Activity

In other news, VP Berend Bracht sold 1,079 shares of the company’s stock in a transaction on 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 owns 4,200 shares of the company’s stock, valued at $2,305,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the transaction, the vice president now owns 1,137 shares of the company’s stock, valued at $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Berend Bracht sold 1,079 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value 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. Company insiders own 1.03% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

A number of hedge funds have recently modified their holdings of PH. Keynote Financial Services LLC purchased a new position in Parker-Hannifin during the first quarter worth about $283,000. Jackson Wealth Management LLC raised its position in shares of Parker-Hannifin by 7.7% during the 1st quarter. Jackson Wealth Management LLC now owns 4,481 shares of the industrial products company’s stock valued at $2,491,000 after buying an additional 322 shares during the period. American Trust lifted its holdings in Parker-Hannifin by 3.2% in the first quarter. American Trust now owns 649 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 20 shares during the last quarter. Cypress Asset Management Inc. TX increased its stake in Parker-Hannifin by 8.6% during the first quarter. Cypress Asset Management Inc. TX now owns 3,199 shares of the industrial products company’s stock worth $1,781,000 after acquiring an additional 253 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in Parker-Hannifin by 32.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 466,791 shares of the industrial products company’s stock valued at $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.