Parker-Hannifin (NYSE:PH) PT Raised to $550.00

Parker-Hannifin (NYSE:PH) had its price objective upped by stock analysts at Mizuho from $490.00 to $550.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the industrial products company’s stock. Mizuho’s target price suggests a potential upside of 2.58% from the stock’s previous close.

PH has been the topic of a number of other research reports. KeyCorp increased their price objective on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Stifel Nicolaus raised their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Truist Financial began coverage on Parker-Hannifin in a research report on Thursday, March 14th. They issued a “buy” rating and a $602.00 target price on the stock. Barclays boosted their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, April 2nd. Finally, Evercore ISI boosted their price target on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $523.94.

Parker-Hannifin Stock Performance

PH stock opened at $536.18 on Friday. The stock has a market capitalization of $68.85 billion, a PE ratio of 25.27, a price-to-earnings-growth ratio of 1.91 and a beta of 1.51. The stock’s 50 day simple moving average is $544.96 and its 200 day simple moving average is $482.63. Parker-Hannifin has a 12-month low of $319.14 and a 12-month high of $570.15. The company has a current ratio of 0.87, a quick ratio of 0.49 and a debt-to-equity ratio of 0.63.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.07 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period last year, the firm posted $5.93 earnings per share. Parker-Hannifin’s revenue was up .3% compared to the same quarter last year. As a group, research analysts forecast that Parker-Hannifin will post 24.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management purchased a new position in Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Sachetta LLC bought a new stake in Parker-Hannifin in the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. bought a new stake in Parker-Hannifin in the fourth quarter worth $26,000. Baystate Wealth Management LLC raised its stake in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 49 shares in the last quarter. Finally, First United Bank & Trust bought a new position in Parker-Hannifin during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

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.