Parker-Hannifin (NYSE:PH) Price Target Raised to $300.00 at Mizuho

Parker-Hannifin (NYSE:PHGet Rating) had its target price raised by Mizuho from $245.00 to $300.00 in a research report sent to investors on Friday morning, The Fly reports. Mizuho currently has a neutral rating on the industrial products company’s stock.

A number of other equities analysts have also issued reports on PH. Barclays reduced their target price on shares of Parker-Hannifin from $335.00 to $329.00 and set an overweight rating on the stock in a research report on Friday, July 8th. Stifel Nicolaus dropped their price target on shares of Parker-Hannifin from $343.00 to $283.00 in a research note on Monday, July 18th. The Goldman Sachs Group dropped their price target on shares of Parker-Hannifin from $346.00 to $287.00 and set a buy rating for the company in a research note on Thursday, June 23rd. Credit Suisse Group set a $330.00 target price on shares of Parker-Hannifin in a research note on Tuesday, July 19th. Finally, KeyCorp lowered their target price on shares of Parker-Hannifin from $385.00 to $335.00 and set an overweight rating for the company in a research note on Tuesday, July 12th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin has an average rating of Moderate Buy and a consensus price target of $327.23.

Parker-Hannifin Stock Performance

NYSE:PH opened at $292.82 on Friday. The firm’s 50-day moving average is $261.49 and its 200-day moving average is $277.60. Parker-Hannifin has a 52-week low of $230.44 and a 52-week high of $340.00. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.09 and a current ratio of 2.06. The company has a market cap of $37.59 billion, a price-to-earnings ratio of 29.05, a PEG ratio of 1.75 and a beta of 1.57.

Parker-Hannifin (NYSE:PHGet Rating) last issued its earnings results on Thursday, August 4th. The industrial products company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.49. Parker-Hannifin had a net margin of 8.29% and a return on equity of 27.81%. The business had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same period in the previous year, the business earned $4.38 EPS. The firm’s revenue was up 5.8% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin will post 18.63 earnings per share for the current year.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, Director James L. Wainscott purchased 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were acquired at an average price of $273.44 per share, with a total value of $273,440.00. Following the transaction, the director now owns 18,280 shares in the company, valued at $4,998,483.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.47% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Parker-Hannifin by 2.0% in the first quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock worth $2,794,892,000 after purchasing an additional 190,889 shares during the last quarter. State Street Corp increased its position in shares of Parker-Hannifin by 1.4% during the fourth quarter. State Street Corp now owns 6,191,510 shares of the industrial products company’s stock valued at $1,969,643,000 after buying an additional 88,326 shares during the period. JPMorgan Chase & Co. increased its position in shares of Parker-Hannifin by 2.3% during the first quarter. JPMorgan Chase & Co. now owns 5,344,389 shares of the industrial products company’s stock valued at $1,516,523,000 after buying an additional 117,616 shares during the period. Viking Global Investors LP increased its position in shares of Parker-Hannifin by 3.5% during the first quarter. Viking Global Investors LP now owns 3,165,334 shares of the industrial products company’s stock valued at $898,195,000 after buying an additional 108,413 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Parker-Hannifin by 56.2% in the first quarter. Wellington Management Group LLP now owns 2,711,951 shares of the industrial products company’s stock worth $769,544,000 after purchasing an additional 976,153 shares during the period. 80.55% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Company Profile

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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 Company's 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.

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