Parker-Hannifin (NYSE:PH) Price Target Increased to $520.00 by Analysts at TD Cowen

Parker-Hannifin (NYSE:PH) had its target price raised by equities researchers at TD Cowen from $500.00 to $520.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the industrial products company’s stock. TD Cowen’s price objective points to a potential downside of 9.61% from the stock’s previous close.

A number of other research firms have also recently issued reports on PH. Stifel Nicolaus cut their price target on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Barclays reduced their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft raised their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Truist Financial reiterated a “buy” rating and issued a $673.00 price target (up previously from $621.00) on shares of Parker-Hannifin in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $624.43.

Parker-Hannifin Trading Down 1.0 %

Shares of PH traded down $5.83 during trading hours on Wednesday, hitting $575.27. 10,294 shares of the stock were exchanged, compared to its average volume of 652,997. The firm has a market capitalization of $73.98 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 2.32 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. Parker-Hannifin has a fifty-two week low of $362.49 and a fifty-two week high of $601.30. The business has a 50-day moving average of $557.48 and a 200-day moving average of $543.92.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same period last year, the company posted $6.08 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts expect that Parker-Hannifin will post 26.65 EPS for the current year.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Institutional Trading of Parker-Hannifin

Hedge funds have recently made changes to their positions in the stock. Fidelis Capital Partners LLC boosted its holdings in shares of Parker-Hannifin by 2.3% in the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 19 shares in the last quarter. Harbor Investment Advisory LLC grew its position in Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares during the last quarter. GoalVest Advisory LLC raised its stake in shares of Parker-Hannifin by 40.0% during the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 20 shares in the last quarter. American Trust boosted its stake in shares of Parker-Hannifin by 3.2% in the 1st quarter. American Trust now owns 649 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 20 shares in the last quarter. Finally, TFG Advisers LLC grew its holdings in shares of Parker-Hannifin by 0.9% during the 2nd quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock valued at $1,098,000 after purchasing an additional 20 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

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.