Parker-Hannifin (NYSE:PH) Upgraded to “Buy” at Wall Street Zen

Parker-Hannifin (NYSE:PH) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Other analysts have also issued reports about the company. Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a report on Friday. JPMorgan Chase & Co. upped their price target on Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. KeyCorp restated an “overweight” rating and set a $1,100.00 price objective on shares of Parker-Hannifin in a research note on Friday. The Goldman Sachs Group reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Thursday, January 29th. Finally, Truist Financial set a $1,139.00 price target on shares of Parker-Hannifin in a research report on Friday. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $990.47.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $963.94 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. Parker-Hannifin has a 52 week low of $488.45 and a 52 week high of $972.80. The firm has a market cap of $121.67 billion, a PE ratio of 35.15, a price-to-earnings-growth ratio of 3.25 and a beta of 1.25. The firm’s fifty day moving average is $901.84 and its 200-day moving average is $810.94.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.The business had revenue of $5.17 billion for the quarter, compared to analysts’ expectations of $5.07 billion. During the same period in the prior year, the business posted $6.53 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. Sell-side analysts predict that Parker-Hannifin will post 26.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, VP Berend Bracht sold 3,507 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $864.58, for a total transaction of $3,032,082.06. Following the sale, the vice president owned 2,580 shares of the company’s stock, valued at approximately $2,230,616.40. This represents a 57.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Andrew D. Ross sold 2,488 shares of Parker-Hannifin stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $894.81, for a total value of $2,226,287.28. Following the transaction, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $11,739,907.20. The trade was a 15.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 7,432 shares of company stock worth $6,484,116 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Parker-Hannifin

Several institutional investors and hedge funds have recently modified their holdings of PH. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin during the third quarter valued at about $25,000. Mowery & Schoenfeld Wealth Management LLC boosted its holdings in Parker-Hannifin by 80.0% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 16 shares during the period. Chilton Capital Management LLC bought a new position in Parker-Hannifin during the 3rd quarter worth approximately $29,000. Ameriflex Group Inc. increased its stake in Parker-Hannifin by 366.7% in the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 33 shares during the period. Finally, Avion Wealth lifted its position in Parker-Hannifin by 35.5% in the fourth quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 11 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.