Parker-Hannifin (NYSE:PH) Price Target Raised to $227.00

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Parker-Hannifin (NYSE:PH) had its target price hoisted by research analysts at Deutsche Bank from $215.00 to $227.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the industrial products company’s stock. Deutsche Bank’s price target would suggest a potential upside of 15.73% from the stock’s previous close.

PH has been the topic of a number of other research reports. ValuEngine raised Parker-Hannifin from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. BMO Capital Markets boosted their target price on shares of Parker-Hannifin to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Gordon Haskett raised shares of Parker-Hannifin from an “underperform” rating to a “hold” rating in a research report on Monday, November 4th. Morgan Stanley set a $193.00 price target on shares of Parker-Hannifin and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Barclays initiated coverage on shares of Parker-Hannifin in a report on Monday, November 18th. They issued an “overweight” rating and a $227.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company’s stock. Parker-Hannifin has an average rating of “Hold” and an average price target of $189.92.

NYSE PH opened at $196.15 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.53 and a current ratio of 1.96. The company has a market capitalization of $25.54 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 2.04 and a beta of 1.57. The company’s 50-day simple moving average is $193.51 and its two-hundred day simple moving average is $174.69. Parker-Hannifin has a one year low of $140.82 and a one year high of $202.30.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.12. Parker-Hannifin had a net margin of 10.41% and a return on equity of 25.74%. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the company earned $2.84 EPS. The company’s revenue was down 4.2% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin will post 10.69 earnings per share for the current fiscal year.

In related news, CEO Thomas L. Williams sold 32,109 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $180.68, for a total value of $5,801,454.12. Following the sale, the chief executive officer now owns 130,176 shares in the company, valued at $23,520,199.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Catherine A. Suever sold 775 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $200.52, for a total transaction of $155,403.00. The disclosure for this sale can be found here. Insiders have sold 70,661 shares of company stock worth $12,986,250 over the last three months. Corporate insiders own 1.23% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC lifted its holdings in shares of Parker-Hannifin by 14.7% in the 3rd quarter. Parallel Advisors LLC now owns 476 shares of the industrial products company’s stock valued at $86,000 after buying an additional 61 shares during the period. Wetherby Asset Management Inc. grew its position in Parker-Hannifin by 1.8% during the third quarter. Wetherby Asset Management Inc. now owns 3,565 shares of the industrial products company’s stock valued at $644,000 after buying an additional 62 shares during the period. First Manhattan Co. grew its position in Parker-Hannifin by 12.2% during the second quarter. First Manhattan Co. now owns 590 shares of the industrial products company’s stock valued at $100,000 after buying an additional 64 shares during the period. Bronfman E.L. Rothschild L.P. grew its position in Parker-Hannifin by 4.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the industrial products company’s stock valued at $262,000 after buying an additional 65 shares during the period. Finally, River Wealth Advisors LLC increased its holdings in Parker-Hannifin by 1.0% in the third quarter. River Wealth Advisors LLC now owns 6,505 shares of the industrial products company’s stock valued at $1,175,000 after buying an additional 66 shares in the last quarter. 80.33% of the stock is owned by institutional investors.

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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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