Parker-Hannifin (PH) PT Raised to $235.00

Parker-Hannifin (NYSE:PH) had its price target raised by analysts at Wells Fargo & Co from $205.00 to $235.00 in a research note issued to investors on Thursday. The firm presently has an “outperform” rating on the industrial products company’s stock. Wells Fargo & Co’s target price indicates a potential upside of 11.48% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Zacks Investment Research raised Parker-Hannifin from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $245.00 price target (up previously from $218.00) on shares of Parker-Hannifin in a report on Tuesday. Cowen reaffirmed a “hold” rating and issued a $180.00 price target on shares of Parker-Hannifin in a report on Wednesday, January 10th. BMO Capital Markets upped their price target on Parker-Hannifin to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Finally, ValuEngine cut Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. Parker-Hannifin currently has a consensus rating of “Buy” and an average price target of $198.21.

Shares of Parker-Hannifin (NYSE PH) traded up $0.89 during trading hours on Thursday, reaching $210.80. The company had a trading volume of 821,200 shares, compared to its average volume of 882,900. Parker-Hannifin has a 1 year low of $141.06 and a 1 year high of $212.80. The company has a market capitalization of $28,080.00, a PE ratio of 27.06, a price-to-earnings-growth ratio of 1.88 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.22. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same quarter in the previous year, the company earned $1.61 earnings per share. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. equities analysts predict that Parker-Hannifin will post 9.61 earnings per share for the current fiscal year.

In other Parker-Hannifin news, VP Robert W. Malone sold 540 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $186.37, for a total transaction of $100,639.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Lee C. Banks sold 5,286 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $186.38, for a total transaction of $985,204.68. Following the transaction, the chief operating officer now owns 112,808 shares in the company, valued at $21,025,155.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,495 shares of company stock worth $4,127,941. Corporate insiders own 1.12% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. IHT Wealth Management LLC grew its holdings in shares of Parker-Hannifin by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 20 shares in the last quarter. People s United Financial Inc. grew its holdings in shares of Parker-Hannifin by 0.5% during the 2nd quarter. People s United Financial Inc. now owns 6,079 shares of the industrial products company’s stock valued at $972,000 after acquiring an additional 31 shares in the last quarter. National Asset Management Inc. grew its holdings in shares of Parker-Hannifin by 4.7% during the 2nd quarter. National Asset Management Inc. now owns 1,432 shares of the industrial products company’s stock valued at $229,000 after acquiring an additional 64 shares in the last quarter. Suntrust Banks Inc. grew its holdings in shares of Parker-Hannifin by 0.8% during the 2nd quarter. Suntrust Banks Inc. now owns 22,244 shares of the industrial products company’s stock valued at $3,553,000 after acquiring an additional 172 shares in the last quarter. Finally, Logan Capital Management Inc. grew its holdings in shares of Parker-Hannifin by 14.8% during the 2nd quarter. Logan Capital Management Inc. now owns 1,524 shares of the industrial products company’s stock valued at $244,000 after acquiring an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 78.05% of the company’s stock.

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Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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