Parker-Hannifin (NYSE:PH) Coverage Initiated at BMO Capital Markets

Investment analysts at BMO Capital Markets began coverage on shares of Parker-Hannifin (NYSE:PH) in a note issued to investors on Friday, Marketbeat.com reports. The firm set an “outperform” rating and a $1,090.00 price target on the industrial products company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 22.78% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. BNP Paribas Exane assumed coverage on shares of Parker-Hannifin in a research note on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price objective on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Stifel Nicolaus increased their price target on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Robert W. Baird set a $1,050.00 price target on Parker-Hannifin in a report on Friday, January 30th. Finally, iA Financial set a $1,032.00 price objective on Parker-Hannifin in a research report on Thursday, January 29th. Seventeen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,000.10.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $887.73 on Friday. The firm has a market capitalization of $112.05 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.86 and a beta of 1.23. The stock has a fifty day moving average price of $954.93 and a two-hundred day moving average price of $868.89. Parker-Hannifin has a 52-week low of $488.45 and a 52-week high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66.

Parker-Hannifin (NYSE:PH) last issued 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 net margin of 17.29% and a return on equity of 27.56%. Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.53 EPS. As a group, analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current fiscal year.

Insider Activity

In other news, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the completion of the sale, the chief financial officer owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the sale, the vice president directly owned 2,580 shares of the company’s stock, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 10,063 shares of company stock worth $9,891,214. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Parker-Hannifin

A number of institutional investors have recently bought and sold shares of PH. JFS Wealth Advisors LLC boosted its position in shares of Parker-Hannifin by 6.8% in the 4th quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 11 shares during the last quarter. Avion Wealth increased its holdings 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. Moneta Group Investment Advisors LLC lifted its stake in Parker-Hannifin by 1.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after buying an additional 11 shares during the period. Inspire Advisors LLC lifted its stake in Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock valued at $807,000 after buying an additional 11 shares during the period. Finally, 180 Wealth Advisors LLC boosted its holdings in Parker-Hannifin by 1.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company’s stock worth $573,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds 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.