Brokerages Set Parker-Hannifin Co. (NYSE:PH) Target Price at $576.27

Shares of Parker-Hannifin Co. (NYSE:PH) have been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $576.27.

Several equities research analysts recently weighed in on PH shares. Truist Financial boosted their target price on Parker-Hannifin from $611.00 to $621.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. KeyCorp boosted their target price on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Raymond James initiated coverage on Parker-Hannifin in a report on Friday, June 28th. They issued an “outperform” rating and a $610.00 target price for the company. Barclays cut their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Finally, Argus upped their price target on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the sale, the vice president now directly owns 1,137 shares in the company, valued at $609,989.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 1,079 shares of the company’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 sale, the vice president now directly owns 4,200 shares in the company, valued at $2,305,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jay Reidy sold 572 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the sale, the vice president now owns 1,137 shares in the company, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Institutional Trading of Parker-Hannifin

Several large investors have recently made changes to their positions in PH. Sachetta LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at $26,000. First United Bank & Trust acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at $29,000. Harbor Investment Advisory LLC lifted its stake in shares of Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at $30,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.7 %

NYSE:PH opened at $554.61 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Parker-Hannifin has a 1-year low of $362.49 and a 1-year high of $570.15. The firm has a market capitalization of $71.29 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 2.12 and a beta of 1.44. The stock has a fifty day simple moving average of $524.66 and a 200 day simple moving average of $526.78.

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 the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.93 EPS. Sell-side analysts forecast that Parker-Hannifin will post 24.85 earnings per share for the current year.

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.