Parker-Hannifin (NYSE:PH) Price Target Raised to $725.00 at KeyCorp

Parker-Hannifin (NYSE:PH) had its target price increased by stock analysts at KeyCorp from $640.00 to $725.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s target price suggests a potential upside of 13.79% from the stock’s current price.

PH has been the subject of a number of other reports. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Evercore ISI upped their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Wells Fargo & Company raised their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Barclays upped their target price on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $655.93.

Parker-Hannifin Trading Up 0.9 %

Shares of PH stock opened at $637.15 on Monday. Parker-Hannifin has a fifty-two week low of $362.49 and a fifty-two week high of $640.00. The stock’s fifty day moving average price is $595.82 and its two-hundred day moving average price is $556.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The company has a market cap of $81.90 billion, a PE ratio of 30.03, a P/E/G ratio of 2.57 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.22 by $0.55. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $6.08 earnings per share. Equities analysts predict that Parker-Hannifin will post 26.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.

Institutional Trading of Parker-Hannifin

Several large investors have recently made changes to their positions in the company. Centaurus Financial Inc. bought a new position in shares of Parker-Hannifin in the 4th quarter worth $128,000. Syon Capital LLC grew its holdings in shares of Parker-Hannifin by 7.4% during the fourth quarter. Syon Capital LLC now owns 1,057 shares of the industrial products company’s stock valued at $487,000 after buying an additional 73 shares during the last quarter. Congress Asset Management Co. MA acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $11,916,000. SageView Advisory Group LLC increased its position in shares of Parker-Hannifin by 31.7% during the fourth quarter. SageView Advisory Group LLC now owns 1,989 shares of the industrial products company’s stock worth $950,000 after acquiring an additional 479 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its holdings in shares of Parker-Hannifin by 3.4% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,466 shares of the industrial products company’s stock worth $1,136,000 after acquiring an additional 80 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Company Profile

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.