Parker-Hannifin (NYSE:PH) Stock Rating Upgraded by Wall Street Zen

Parker-Hannifin (NYSE:PH) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other research analysts have also recently weighed in on PH. Mizuho set a $1,200.00 price target on shares of Parker-Hannifin in a research report on Thursday, October 15th. TD Cowen raised their price objective on shares of Parker-Hannifin from $850.00 to $950.00 and gave the company a “hold” rating in a research note on Wednesday, October 14th. BNP Paribas Exane boosted their price target on shares of Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an “outperform” rating in a report on Friday, September 18th. Sanford C. Bernstein increased their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $1,214.00 price objective (up from $1,068.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,146.35.

Parker-Hannifin Trading Down 0.1%

NYSE PH opened at $880.03 on Friday. Parker-Hannifin has a one year low of $755.10 and a one year high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The company has a market capitalization of $110.98 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.45 and a beta of 1.12. The company’s 50-day simple moving average is $966.89 and its two-hundred day simple moving average is $951.31.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. Parker-Hannifin’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities analysts forecast that Parker-Hannifin will post 35.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the transaction, the vice president owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Parker-Hannifin

Hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $10,163,362,000. State Street Corp grew its position in Parker-Hannifin by 0.5% in the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after acquiring an additional 42,548 shares in the last quarter. Bank of America Corp DE acquired a new stake in Parker-Hannifin in the second quarter valued at approximately $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Parker-Hannifin by 2.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock valued at $1,010,341,000 after buying an additional 25,167 shares during the last quarter. Finally, Deutsche Bank AG acquired a new stake in Parker-Hannifin during the 2nd quarter valued at approximately $987,587,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.