Mizuho Boosts Parker-Hannifin (NYSE:PH) Price Target to $550.00

Parker-Hannifin (NYSE:PH) had its target price lifted by research analysts at Mizuho from $490.00 to $550.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Mizuho’s price target points to a potential upside of 2.58% from the stock’s current price.

Several other brokerages have also issued reports on PH. Barclays lifted their target price 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. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. Truist Financial initiated 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. Stifel Nicolaus boosted their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, Evercore ISI raised their price objective on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $523.94.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $536.18 on Friday. The firm has a market cap of $68.85 billion, a PE ratio of 25.27, a P/E/G ratio of 1.91 and a beta of 1.51. The business has a 50-day moving average price of $544.96 and a 200 day moving average price of $482.63. The company has a quick ratio of 0.49, a current ratio of 0.87 and a debt-to-equity ratio of 0.63. Parker-Hannifin has a twelve month low of $319.14 and a twelve month high of $570.15.

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

Institutional Trading of Parker-Hannifin

Institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $25,000. Sachetta LLC purchased a new position in Parker-Hannifin during the fourth quarter worth about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $26,000. Baystate Wealth Management LLC raised its stake in shares of Parker-Hannifin by 233.3% in the 3rd quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 49 shares during the period. Finally, First United Bank & Trust acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $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.