Parker-Hannifin Corporation (NYSE:PH) Receives $739.59 Consensus Price Target from Brokerages

Shares of Parker-Hannifin Corporation (NYSE:PH) have received a consensus rating of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $739.59.

A number of analysts have weighed in on the company. Morgan Stanley upped their target price on Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Argus set a $680.00 price objective on Parker-Hannifin in a research report on Tuesday, May 6th. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $709.00 to $717.00 and gave the stock a “hold” rating in a report on Monday, July 21st. Evercore ISI raised their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an “outperform” rating in a report on Monday, May 19th. Finally, KeyCorp boosted their price objective on shares of Parker-Hannifin from $735.00 to $790.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 15th.

Parker-Hannifin Trading Down 2.8%

Shares of PH opened at $711.50 on Friday. The firm has a market capitalization of $90.92 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 3.04 and a beta of 1.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. Parker-Hannifin has a 1-year low of $488.45 and a 1-year high of $745.34. The company has a 50-day moving average of $692.39 and a 200 day moving average of $654.71.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. Parker-Hannifin’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the business posted $6.51 EPS. On average, research analysts expect that Parker-Hannifin will post 26.71 EPS for the current year.

Institutional Investors Weigh In On Parker-Hannifin

Several institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in shares of Parker-Hannifin by 66,111.8% in the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock valued at $1,054,870,000 after buying an additional 1,732,791 shares during the last quarter. Nuveen LLC purchased a new stake in Parker-Hannifin during the 1st quarter valued at about $933,089,000. Royal Bank of Canada raised its holdings in Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock valued at $1,448,241,000 after acquiring an additional 1,137,564 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Parker-Hannifin by 52.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock worth $1,485,042,000 after purchasing an additional 842,262 shares in the last quarter. Finally, Capital World Investors acquired a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $418,174,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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.