JPMorgan Chase & Co. Issues Pessimistic Forecast for Parker-Hannifin (NYSE:PH) Stock Price

Parker-Hannifin (NYSE:PH) had its target price cut by analysts at JPMorgan Chase & Co. from $1,140.00 to $1,131.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 17.64% from the stock’s current price.

A number of other analysts have also recently commented on PH. Wall Street Zen cut Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a report on Friday, August 7th. Citigroup lifted their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Finally, UBS Group boosted their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Sixteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,123.10.

Parker-Hannifin Price Performance

NYSE:PH traded up $14.47 during mid-day trading on Friday, reaching $961.43. 268,290 shares of the company were exchanged, compared to its average volume of 688,289. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $987.27 and a 200 day moving average of $948.12. Parker-Hannifin has a 12 month low of $715.37 and a 12 month high of $1,099.94. The stock has a market cap of $121.25 billion, a PE ratio of 33.75, a PEG ratio of 2.91 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the firm earned $7.69 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, research analysts anticipate that Parker-Hannifin will post 35.09 EPS for the current fiscal year.

Insider Transactions at Parker-Hannifin

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

Hedge Funds Weigh In On Parker-Hannifin

Several large investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Parker-Hannifin during the second quarter worth approximately $10,163,362,000. Bank of America Corp DE bought a new position in shares of Parker-Hannifin during the second quarter worth approximately $3,273,507,000. Deutsche Bank AG acquired a new stake in Parker-Hannifin during the 2nd quarter worth approximately $987,587,000. Bank of New York Mellon Corp bought a new stake in Parker-Hannifin in the 2nd quarter valued at $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Parker-Hannifin in the 2nd quarter valued at $305,628,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies. The company develops and produces components and systems that manage the movement and control of liquids, gases and mechanical force across industrial, mobile and aerospace applications.

Its product portfolio includes hydraulic and pneumatic systems, electromechanical technologies, filtration and fluid-management equipment, seals and shielding products, connectors, pumps, valves, sensors, thermal-management solutions and related engineered systems.