Parker-Hannifin (NYSE:PH) Now Covered by Citigroup

Investment analysts at Citigroup assumed coverage on shares of Parker-Hannifin (NYSE:PH) in a note issued to investors on Friday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $795.00 price target on the industrial products company’s stock. Citigroup’s price objective points to a potential upside of 14.94% from the stock’s previous close.

Several other analysts have also recently weighed in on PH. Jefferies Financial Group boosted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Argus upped their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. TD Cowen upped their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Truist Financial upped their price target on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, KeyCorp upped their price target on Parker-Hannifin from $775.00 to $790.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $729.18.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $691.65 on Friday. The stock has a market capitalization of $89.03 billion, a P/E ratio of 28.63, a P/E/G ratio of 2.90 and a beta of 1.45. Parker-Hannifin has a 1-year low of $492.71 and a 1-year high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average price of $666.12 and a two-hundred day moving average price of $633.00.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share for the quarter, topping the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Equities analysts predict that Parker-Hannifin will post 26.67 earnings per share for the current year.

Hedge Funds Weigh In On Parker-Hannifin

A number of large investors have recently bought and sold shares of PH. West Branch Capital LLC acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $25,000. Prestige Wealth Management Group LLC boosted its position in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new position in Parker-Hannifin during the 4th quarter worth approximately $35,000. Finally, Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $39,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

About Parker-Hannifin

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.