Parker-Hannifin (NYSE:PH) PT Raised to $590.00 at Argus

Parker-Hannifin (NYSE:PH) had its price objective lifted by research analysts at Argus from $550.00 to $590.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Argus’ price objective suggests a potential upside of 7.15% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Barclays cut their target price on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a research report on Friday. Wells Fargo & Company reduced their price target on shares of Parker-Hannifin from $640.00 to $630.00 and set an “overweight” rating on the stock in a research report on Monday. KeyCorp upped their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, TD Cowen raised Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $300.00 to $500.00 in a report on Friday, March 1st. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $539.56.

Parker-Hannifin Stock Up 2.7 %

PH traded up $14.46 on Monday, reaching $550.64. 127,629 shares of the company traded hands, compared to its average volume of 600,658. The company has a market cap of $70.71 billion, a price-to-earnings ratio of 25.91, a PEG ratio of 1.94 and a beta of 1.51. Parker-Hannifin has a 52-week low of $319.14 and a 52-week high of $570.15. The stock’s 50 day moving average price is $544.96 and its 200-day moving average price is $483.92. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping analysts’ consensus estimates of $6.10 by $0.41. The firm had revenue of $5.07 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business’s revenue for the quarter was up .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.93 earnings per share. On average, sell-side analysts expect that Parker-Hannifin will post 24.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Parker-Hannifin

A number of large investors have recently bought and sold shares of the business. OFI Invest Asset Management bought a new stake in Parker-Hannifin during the third quarter valued at about $25,000. Sachetta LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. purchased a new position in shares of Parker-Hannifin during the fourth quarter worth $26,000. Baystate Wealth Management LLC boosted its position in shares of Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after buying an additional 49 shares during the period. Finally, First United Bank & Trust purchased a new position in shares of Parker-Hannifin during the fourth quarter worth $29,000. 82.44% of the stock is currently 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 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.