Parker-Hannifin (NYSE:PH) Price Target Raised to $1,269.00 at Truist Financial

Parker-Hannifin (NYSE:PH) had its price objective hoisted by equities research analysts at Truist Financial from $1,147.00 to $1,269.00 in a report released on Thursday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective would indicate a potential upside of 31.50% from the stock’s current price.

Several other brokerages also recently commented on PH. JPMorgan Chase & Co. lowered their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research report on Thursday, May 7th. Sanford C. Bernstein assumed coverage on Parker-Hannifin in a research note on Tuesday, June 9th. They issued an “outperform” rating and a $1,026.00 price target on the stock. Evercore set a $1,064.00 price target on Parker-Hannifin in a report on Monday, May 11th. BMO Capital Markets started coverage on Parker-Hannifin in a research report on Friday, March 27th. They set an “outperform” rating and a $1,090.00 price objective for the company. Finally, Mizuho set a $1,050.00 price objective on Parker-Hannifin in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,026.86.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $965.05 on Thursday. The business has a fifty day moving average price of $907.41 and a two-hundred day moving average price of $926.95. The stock has a market capitalization of $121.68 billion, a PE ratio of 35.60, a P/E/G ratio of 2.84 and a beta of 1.14. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. Parker-Hannifin has a fifty-two week low of $692.02 and a fifty-two week high of $1,034.96.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, April 30th. The industrial products company reported $8.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.84 by $0.33. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the company posted $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. As a group, equities analysts predict that Parker-Hannifin will post 31.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PH. Vanguard Group Inc. increased its holdings in Parker-Hannifin by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after purchasing an additional 33,606 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Parker-Hannifin by 0.6% during the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after purchasing an additional 22,305 shares in the last quarter. Capital World Investors grew its holdings in shares of Parker-Hannifin by 0.6% during the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock worth $2,286,038,000 after purchasing an additional 16,703 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Parker-Hannifin by 0.6% during the third quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company’s stock worth $1,674,132,000 after purchasing an additional 13,309 shares during the last quarter. Finally, Morgan Stanley increased its stake in shares of Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after buying an additional 22,367 shares during the period. 82.44% of the stock is currently owned by institutional investors.

About Parker-Hannifin

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.