Parker-Hannifin (NYSE:PH) Stock Rating Lowered by Wall Street Zen

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

Other analysts have also recently issued reports about the stock. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 1st. Wells Fargo & Company reduced their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Susquehanna boosted their target price on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Citigroup lifted their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Truist Financial boosted their price objective on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Stock Up 0.1%

Parker-Hannifin stock opened at $1,002.90 on Friday. The business’s 50-day simple moving average is $984.42 and its two-hundred day simple moving average is $948.72. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The company has a market cap of $126.46 billion, a PE ratio of 35.20, a PEG ratio of 2.61 and a beta of 1.12. Parker-Hannifin has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the business posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities analysts anticipate that Parker-Hannifin will post 34.93 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after purchasing an additional 33,606 shares in the last quarter. BlackRock Inc. purchased a new position in Parker-Hannifin during the second quarter worth approximately $10,163,362,000. Bank of America Corp DE grew its holdings in Parker-Hannifin by 0.6% in the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after purchasing an additional 22,305 shares during the period. Capital World Investors grew its holdings in Parker-Hannifin by 0.6% in the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after purchasing an additional 16,703 shares during the period. Finally, Morgan Stanley increased its position in shares of Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after buying an additional 22,367 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

About Parker-Hannifin

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.