Citigroup Lowers Parker-Hannifin (NYSE:PH) Price Target to $665.00

Parker-Hannifin (NYSE:PH) had its target price decreased by analysts at Citigroup from $795.00 to $665.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Citigroup’s target price suggests a potential upside of 16.94% from the company’s current price.

A number of other research firms have also recently weighed in on PH. Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a research note on Thursday, April 10th. Stifel Nicolaus dropped their price objective on Parker-Hannifin from $691.00 to $564.00 and set a “hold” rating on the stock in a research note on Monday. Evercore ISI raised their target price on Parker-Hannifin from $777.00 to $824.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. UBS Group dropped their price target on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Finally, KeyCorp decreased their price objective on Parker-Hannifin from $790.00 to $690.00 and set an “overweight” rating for the company in a report on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $705.35.

Parker-Hannifin Trading Down 0.2 %

Shares of PH stock opened at $568.65 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company has a market capitalization of $73.20 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 2.85 and a beta of 1.39. Parker-Hannifin has a 52-week low of $488.45 and a 52-week high of $718.44. The company has a 50-day simple moving average of $626.42 and a two-hundred day simple moving average of $650.00.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Research analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Parker-Hannifin

A number of institutional investors and hedge funds have recently made changes to their positions in PH. Whipplewood Advisors LLC purchased a new stake in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parker-Hannifin during the fourth quarter valued at about $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $32,000. Finally, Bank of New Hampshire bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $35,000. 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.