Parker-Hannifin (NYSE:PH) Given New $611.00 Price Target at Truist Financial

Parker-Hannifin (NYSE:PH) had its target price increased by stock analysts at Truist Financial from $602.00 to $611.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the industrial products company’s stock. Truist Financial’s price objective suggests a potential upside of 13.95% from the company’s previous close.

A number of other research firms have also recently issued reports on PH. Evercore ISI raised their target price on Parker-Hannifin from $505.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $300.00 to $500.00 in a research report on Friday, March 1st. Stifel Nicolaus raised their target price on Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Barclays cut their target price on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Mizuho increased their price target on Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $523.94.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $536.18 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.49 and a current ratio of 0.87. The stock has a market capitalization of $68.85 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.93 and a beta of 1.51. Parker-Hannifin has a one year low of $319.14 and a one year high of $570.15. The company’s 50-day simple moving average is $544.96 and its 200-day simple moving average is $482.63.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, topping the consensus estimate of $6.10 by $0.41. The company had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter last year, the firm earned $5.93 EPS. Equities analysts anticipate that Parker-Hannifin will post 24.62 earnings per share for the current fiscal year.

Institutional Trading of Parker-Hannifin

A number of hedge funds and other institutional investors have recently made changes to their positions in PH. OFI Invest Asset Management acquired a new position in Parker-Hannifin in the third quarter worth approximately $25,000. Sachetta LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Parker-Hannifin in the 4th quarter worth $26,000. Baystate Wealth Management LLC lifted its holdings in shares of Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 49 shares during the last quarter. Finally, First United Bank & Trust acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $29,000. 82.44% of the stock is currently owned by 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.