Parker-Hannifin (NYSE:PH) Stock Rating Raised to “Strong-Buy” at Zacks Research

Parker-Hannifin (NYSE:PH) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.

A number of other research firms have also commented on PH. Raymond James Financial raised their price objective on shares of Parker-Hannifin from $1,050.00 to $1,250.00 and gave the stock an “outperform” rating in a research note on Monday, August 10th. Deutsche Bank boosted their target price on shares of Parker-Hannifin from $998.00 to $1,023.00 and gave the company a “hold” rating in a research note on Wednesday, September 30th. Argus increased their target price on Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, August 10th. KeyCorp increased their target price on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Susquehanna raised their target price on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,146.35.

Parker-Hannifin Price Performance

PH stock opened at $972.53 on Tuesday. Parker-Hannifin has a one year low of $806.22 and a one year high of $1,099.94. The firm has a 50-day moving average of $945.68 and a two-hundred day moving average of $949.65. The firm has a market capitalization of $122.64 billion, a PE ratio of 33.40, a P/E/G ratio of 2.28 and a beta of 1.15. The company has a current ratio of 0.94, a quick ratio of 0.55 and a debt-to-equity ratio of 0.79.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, November 5th. The industrial products company reported $8.90 earnings per share for the quarter, topping the consensus estimate of $8.21 by $0.69. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.81 billion. During the same period last year, the firm posted $7.22 earnings per share. The firm’s quarterly revenue was up 17.9% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. On average, analysts forecast that Parker-Hannifin will post 37.07 earnings per share for the current year.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the sale, the vice president owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Parker-Hannifin

Several institutional investors and hedge funds have recently modified their holdings of PH. Proficio Capital Partners LLC increased its position in Parker-Hannifin by 234.0% during the second quarter. Proficio Capital Partners LLC now owns 1,954 shares of the industrial products company’s stock worth $1,911,000 after buying an additional 1,369 shares during the last quarter. BNP Paribas raised its holdings in Parker-Hannifin by 4.1% during the second quarter. BNP Paribas now owns 54,208 shares of the industrial products company’s stock valued at $52,717,000 after buying an additional 2,121 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in Parker-Hannifin by 86.1% during the second quarter. Integrated Wealth Concepts LLC now owns 3,503 shares of the industrial products company’s stock valued at $3,426,000 after buying an additional 1,621 shares in the last quarter. National Pension Service lifted its position in shares of Parker-Hannifin by 3.0% in the second quarter. National Pension Service now owns 367,138 shares of the industrial products company’s stock worth $359,105,000 after buying an additional 10,590 shares during the last quarter. Finally, Rakuten Investment Management Inc. acquired a new stake in shares of Parker-Hannifin in the second quarter worth about $19,883,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Company Profile

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.