Parker-Hannifin (NYSE:PH) Coverage Initiated by Analysts at UBS Group

Stock analysts at UBS Group started coverage on shares of Parker-Hannifin (NYSE:PH) in a report issued on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $842.00 price target on the industrial products company’s stock. UBS Group’s target price would suggest a potential upside of 20.69% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. Mizuho raised their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Wells Fargo & Company increased their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Barclays lifted their price target on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird increased their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $688.07.

Parker-Hannifin Stock Down 1.2 %

PH stock opened at $697.63 on Wednesday. The business’s fifty day moving average price is $631.19 and its two-hundred day moving average price is $573.08. The stock has a market capitalization of $89.80 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.85 and a beta of 1.43. Parker-Hannifin has a fifty-two week low of $425.20 and a fifty-two week high of $711.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the business posted $5.96 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. On average, equities analysts anticipate that Parker-Hannifin will post 26.77 earnings per share for the current year.

Insider Buying and Selling at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,927 shares of company stock valued at $12,807,811. Company insiders own 0.39% of the company’s stock.

Institutional Trading of Parker-Hannifin

Large investors have recently added to or reduced their stakes in the stock. Addison Advisors LLC acquired a new position in Parker-Hannifin in the 2nd quarter valued at about $25,000. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin during the third quarter worth $25,000. Bangor Savings Bank grew its position in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Fortitude Family Office LLC lifted its holdings in Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after buying an additional 52 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Parker-Hannifin during the first quarter worth $38,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

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.