KeyCorp Increases Parker-Hannifin (NYSE:PH) Price Target to $810.00

Parker-Hannifin (NYSE:PH) had its price target upped by research analysts at KeyCorp from $790.00 to $810.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target points to a potential upside of 11.31% from the company’s current price.

PH has been the subject of a number of other reports. Morgan Stanley upped their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 1st. Evercore ISI upped their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research note on Friday, May 16th. Finally, Barclays upped their price target on shares of Parker-Hannifin from $750.00 to $776.00 and gave the stock an “overweight” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $763.00.

Parker-Hannifin Trading Up 0.3%

Parker-Hannifin stock opened at $727.68 on Friday. The company has a quick ratio of 0.70, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average price of $697.59 and a two-hundred day moving average price of $656.35. The firm has a market capitalization of $92.98 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 3.11 and a beta of 1.37. Parker-Hannifin has a 52-week low of $488.45 and a 52-week high of $745.34.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 7th. The industrial products company reported $7.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.08 by $0.61. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Parker-Hannifin had a net margin of 17.79% and a return on equity of 26.80%. Parker-Hannifin’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business posted $6.77 EPS. Sell-side analysts expect that Parker-Hannifin will post 26.71 earnings per share for the current year.

Institutional Investors Weigh In On Parker-Hannifin

A number of large investors have recently made changes to their positions in PH. GAMMA Investing LLC raised its holdings in shares of Parker-Hannifin by 66,111.8% during 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 acquiring an additional 1,732,791 shares during the period. Nuveen LLC acquired a new stake in shares of Parker-Hannifin during the first quarter valued at approximately $933,089,000. Royal Bank of Canada raised its holdings in shares of Parker-Hannifin by 99.8% during the fourth 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 period. Price T Rowe Associates Inc. MD increased 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 valued at $1,485,042,000 after buying an additional 842,262 shares during the period. Finally, Capital World Investors acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $418,174,000. Institutional investors and hedge funds 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.