Parker-Hannifin (NYSE:PH) Upgraded at Zacks Research

Parker-Hannifin (NYSE:PH) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday, Zacks reports.

A number of other research firms have also issued reports on PH. Sanford C. Bernstein reiterated an “outperform” rating on shares of Parker-Hannifin in a research note on Monday. BNP Paribas Exane boosted their target price on shares of Parker-Hannifin from $1,220.00 to $1,270.00 and gave the stock an “outperform” rating in a research report on Friday, September 18th. Argus upped their price target on shares of Parker-Hannifin from $1,030.00 to $1,200.00 and gave the company a “buy” rating in a report on Monday, August 10th. JPMorgan Chase & Co. decreased their price target on shares of Parker-Hannifin from $1,140.00 to $1,131.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Finally, Susquehanna raised their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $1,146.35.

Parker-Hannifin Trading Up 0.8%

Shares of PH stock opened at $972.53 on Tuesday. Parker-Hannifin has a 12 month low of $806.22 and a 12 month high of $1,099.94. The company has a quick ratio of 0.55, a current ratio of 0.94 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $945.68 and its two-hundred day moving average is $949.65. The company has a market cap of $122.64 billion, a PE ratio of 33.40, a price-to-earnings-growth ratio of 2.28 and a beta of 1.15.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 5th. The industrial products company reported $8.90 EPS for the quarter, beating analysts’ consensus estimates of $8.21 by $0.69. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same quarter last year, the firm posted $7.22 earnings per share. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. Equities analysts predict that Parker-Hannifin will post 37.07 EPS for the current year.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the sale, the vice president owned 4,399 shares in the company, valued at approximately $4,577,027.53. This trade represents a 12.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by company insiders.

Institutional Trading of Parker-Hannifin

Several institutional investors have recently modified their holdings of PH. E Fund Management Co. Ltd. raised its stake in shares of Parker-Hannifin by 2.1% in the second quarter. E Fund Management Co. Ltd. now owns 477 shares of the industrial products company’s stock valued at $467,000 after purchasing an additional 10 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its position in Parker-Hannifin by 1.3% in the third quarter. Texas Capital Bank Wealth Management Services Inc now owns 846 shares of the industrial products company’s stock worth $808,000 after purchasing an additional 11 shares during the period. Allen Capital Group LLC boosted its stake in Parker-Hannifin by 4.8% during the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock worth $236,000 after buying an additional 12 shares in the last quarter. Doliver Advisors LP boosted its stake in Parker-Hannifin by 0.6% during the second quarter. Doliver Advisors LP now owns 2,011 shares of the industrial products company’s stock worth $1,967,000 after buying an additional 12 shares in the last quarter. Finally, Bullock Wealth Management Group boosted its stake in Parker-Hannifin by 1.6% during the third quarter. Bullock Wealth Management Group now owns 754 shares of the industrial products company’s stock worth $728,000 after buying an additional 12 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.