Evercore ISI Boosts Parker-Hannifin (NYSE:PH) Price Target to $827.00

Parker-Hannifin (NYSE:PH) had its target price hoisted by equities research analysts at Evercore ISI from $824.00 to $827.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the industrial products company’s stock. Evercore ISI’s target price points to a potential upside of 21.58% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a “hold” rating in a research report on Friday, May 2nd. Argus set a $680.00 price target on Parker-Hannifin in a report on Tuesday, May 6th. KeyCorp lifted their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Finally, Barclays dropped their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an “overweight” rating on the stock in a report on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $718.44.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $680.19 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $86.91 billion, a P/E ratio of 28.15, a PEG ratio of 2.85 and a beta of 1.36. The business has a 50-day moving average of $606.46 and a 200-day moving average of $647.87. Parker-Hannifin has a 1 year low of $488.45 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm had revenue of $4.96 billion during the quarter, compared to analysts’ expectations of $4.99 billion. During the same quarter in the previous year, the company earned $6.51 earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities analysts anticipate that Parker-Hannifin will post 26.71 EPS for the current year.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the transaction, the vice president now directly owns 2,083 shares of the company’s stock, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.

Institutional Trading of Parker-Hannifin

A number of large investors have recently added to or reduced their stakes in PH. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin in the 4th quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin in the fourth quarter valued at approximately $25,000. Wealth Preservation Advisors LLC acquired a new stake in shares of Parker-Hannifin in the first quarter valued at approximately $27,000. Millstone Evans Group LLC bought a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $30,000. Finally, Saudi Central Bank acquired a new position in shares of Parker-Hannifin during the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

About Parker-Hannifin

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.