BMO Capital Markets Boosts Parker-Hannifin (PH) Price Target to $225.00

Parker-Hannifin (NYSE:PH) had its price objective boosted by equities researchers at BMO Capital Markets to $225.00 in a research note issued to investors on Thursday. The firm currently has an “outperform” rating on the industrial products company’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 11.66% from the company’s previous close.

Several other brokerages have also recently weighed in on PH. ValuEngine cut Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Buckingham Research boosted their price objective on Parker-Hannifin from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Credit Suisse Group boosted their price objective on Parker-Hannifin from $205.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Robert W. Baird boosted their price objective on Parker-Hannifin from $183.00 to $194.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, Jefferies Group boosted their price objective on Parker-Hannifin from $175.00 to $185.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $189.95.

Shares of Parker-Hannifin (NYSE PH) opened at $201.51 on Thursday. The firm has a market capitalization of $26,850.00, a PE ratio of 25.87, a price-to-earnings-growth ratio of 1.79 and a beta of 1.40. Parker-Hannifin has a twelve month low of $139.92 and a twelve month high of $201.60. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.61 EPS. equities analysts anticipate that Parker-Hannifin will post 9.57 earnings per share for the current fiscal year.

In other news, VP Andrew D. Ross sold 2,056 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $192.14, for a total value of $395,039.84. Following the completion of the sale, the vice president now directly owns 5,207 shares of the company’s stock, valued at approximately $1,000,472.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Linda S. Harty sold 3,491 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $183.30, for a total value of $639,900.30. Following the completion of the sale, the director now directly owns 9,727 shares of the company’s stock, valued at $1,782,959.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,495 shares of company stock valued at $4,127,941. 1.12% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Parker-Hannifin by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after purchasing an additional 90,732 shares in the last quarter. BlackRock Inc. increased its stake in Parker-Hannifin by 3.6% during the 2nd quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock worth $1,352,775,000 after purchasing an additional 298,047 shares in the last quarter. Longview Partners Guernsey LTD increased its stake in Parker-Hannifin by 5.4% during the 3rd quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock worth $947,463,000 after purchasing an additional 278,500 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Parker-Hannifin by 10.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock worth $336,317,000 after purchasing an additional 194,858 shares in the last quarter. Finally, FMR LLC increased its stake in Parker-Hannifin by 11.7% during the 2nd quarter. FMR LLC now owns 1,959,733 shares of the industrial products company’s stock worth $313,205,000 after purchasing an additional 204,826 shares in the last quarter. 78.04% of the stock is owned by institutional investors and hedge funds.

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About Parker-Hannifin

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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