Parker-Hannifin (NYSE:PH) PT Raised to $446.00 at Stifel Nicolaus

Posted by Defense World Staff on Jul 16th, 2023

Parker-Hannifin logo Parker-Hannifin (NYSE:PH – Get Free Report) had its price target hoisted by Stifel Nicolaus from $383.00 to $446.00 in a research report issued on Friday, FlyOnTheWall reports. Stifel Nicolaus’ price target points to a potential upside of 12.57% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on PH. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays raised their target price on shares of Parker-Hannifin from $400.00 to $425.00 in a research note on Monday, July 10th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Parker-Hannifin from $322.00 to $344.00 and gave the company a “hold” rating in a research note on Wednesday, April 12th. BMO Capital Markets raised their price objective on shares of Parker-Hannifin from $390.00 to $405.00 in a research report on Tuesday, May 9th. Finally, Wells Fargo & Company upped their target price on Parker-Hannifin from $380.00 to $425.00 in a research report on Monday, July 10th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $413.85.

Parker-Hannifin Trading Down 0.6 %

NYSE PH opened at $396.20 on Friday. The stock has a market capitalization of $50.88 billion, a price-to-earnings ratio of 34.30, a PEG ratio of 1.53 and a beta of 1.53. Parker-Hannifin has a 52 week low of $235.69 and a 52 week high of $402.99. The stock’s 50 day moving average price is $357.36 and its two-hundred day moving average price is $337.57. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.72 and a current ratio of 1.25.

Parker-Hannifin (NYSE:PH – Get Free Report) last announced its quarterly earnings data on Thursday, May 4th. The industrial products company reported $5.93 earnings per share for the quarter, beating the consensus estimate of $5.01 by $0.92. Parker-Hannifin had a return on equity of 29.14% and a net margin of 8.28%. The company had revenue of $5.06 billion during the quarter, compared to analysts’ expectations of $4.79 billion. During the same quarter last year, the company earned $4.83 EPS. Parker-Hannifin’s revenue for the quarter was up 23.9% compared to the same quarter last year. As a group, analysts anticipate that Parker-Hannifin will post 20.91 earnings per share for the current fiscal year.

Insider Activity

In other Parker-Hannifin news, VP William R. Bowman sold 2,403 shares of Parker-Hannifin stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $357.65, for a total transaction of $859,432.95. Following the transaction, the vice president now directly owns 11,152 shares of the company’s stock, valued at approximately $3,988,512.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Vice Chairman Lee C. Banks sold 29,764 shares of the business’s stock in a transaction on Friday, May 5th. The shares were sold at an average price of $333.84, for a total value of $9,936,413.76. Following the transaction, the insider now owns 110,476 shares in the company, valued at $36,881,307.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP William R. Bowman sold 2,403 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $357.65, for a total value of $859,432.95. Following the sale, the vice president now owns 11,152 shares of the company’s stock, valued at $3,988,512.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,526 shares of company stock valued at $11,618,868. Insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PH. Arlington Partners LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $29,000. Arcadia Investment Management Corp MI grew its holdings in shares of Parker-Hannifin by 233.3% during the first quarter. Arcadia Investment Management Corp MI now owns 100 shares of the industrial products company’s stock valued at $34,000 after buying an additional 70 shares during the last quarter. Align Wealth Management LLC acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $38,000. BDO Wealth Advisors LLC increased its position in shares of Parker-Hannifin by 32.7% during the fourth quarter. BDO Wealth Advisors LLC now owns 134 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 33 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. bought a new position in Parker-Hannifin in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 81.62% of the company’s stock.

About Parker-Hannifin

(Get Free Report)

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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.