Parker-Hannifin (NYSE:PH) Given New $1,100.00 Price Target at Jefferies Financial Group

Parker-Hannifin (NYSE:PHGet Free Report) had its target price increased by Jefferies Financial Group from $1,050.00 to $1,100.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Jefferies Financial Group’s target price points to a potential upside of 16.58% from the stock’s current price.

Other research analysts have also issued research reports about the company. Citigroup reaffirmed a “buy” rating on shares of Parker-Hannifin in a research report on Monday, January 12th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research note on Thursday. Truist Financial set a $1,139.00 price objective on Parker-Hannifin in a research note on Friday. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $981.20.

Check Out Our Latest Analysis on PH

Parker-Hannifin Price Performance

Shares of NYSE PH traded down $4.83 during mid-day trading on Friday, reaching $943.58. The company’s stock had a trading volume of 329,103 shares, compared to its average volume of 646,292. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.61 and a current ratio of 1.07. The stock has a 50-day moving average of $895.47 and a two-hundred day moving average of $804.72. The stock has a market capitalization of $119.07 billion, a P/E ratio of 33.52, a P/E/G ratio of 3.19 and a beta of 1.25. Parker-Hannifin has a 1-year low of $488.45 and a 1-year high of $965.00.

Parker-Hannifin (NYSE:PHGet Free Report) last issued its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 18.17% and a return on equity of 27.23%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.53 earnings per share. On average, equities research analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current fiscal year.

Insider Buying and Selling

In other Parker-Hannifin news, VP Rachid Bendali sold 1,437 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $852.99, for a total transaction of $1,225,746.63. Following the transaction, the vice president directly owned 2,714 shares in the company, valued at approximately $2,315,014.86. The trade was a 34.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 2,488 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $894.81, for a total value of $2,226,287.28. Following the completion of the sale, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at approximately $11,739,907.20. This represents a 15.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 7,432 shares of company stock worth $6,484,116 in the last three months. 0.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Simplicity Wealth LLC increased its position in shares of Parker-Hannifin by 24.8% during the 4th quarter. Simplicity Wealth LLC now owns 488 shares of the industrial products company’s stock worth $429,000 after purchasing an additional 97 shares in the last quarter. Turning Point Benefit Group Inc. boosted its position in shares of Parker-Hannifin by 32.4% in the 4th quarter. Turning Point Benefit Group Inc. now owns 249 shares of the industrial products company’s stock worth $219,000 after purchasing an additional 61 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Parker-Hannifin during the 4th quarter worth approximately $136,000. Oakworth Capital Inc. grew its holdings in shares of Parker-Hannifin by 38.4% in the 4th quarter. Oakworth Capital Inc. now owns 263 shares of the industrial products company’s stock valued at $231,000 after buying an additional 73 shares during the period. Finally, Wealthfront Advisers LLC lifted its holdings in shares of Parker-Hannifin by 12.5% during the 4th quarter. Wealthfront Advisers LLC now owns 16,126 shares of the industrial products company’s stock valued at $14,174,000 after purchasing an additional 1,795 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Key Parker-Hannifin News

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Parker-Hannifin Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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