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

Parker-Hannifin (NYSE:PH) had its target price hoisted by equities researchers at BMO Capital Markets to $225.00 in a report issued on Thursday, January 4th, The Fly reports. 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 7.12% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Buckingham Research started coverage on shares of Parker-Hannifin in a research note on Tuesday, October 17th. They issued a “buy” rating and a $205.00 target price on the stock. KeyCorp reaffirmed a “buy” rating and issued a $200.00 target price on shares of Parker-Hannifin in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $198.00 target price on the stock in a research note on Tuesday, October 10th. Stifel Nicolaus reiterated a “buy” rating and set a $198.00 price target on shares of Parker-Hannifin in a research report on Friday, October 13th. Finally, Deutsche Bank increased their price target on shares of Parker-Hannifin to $200.00 and gave the company a “buy” rating in a research report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $192.84.

Shares of Parker-Hannifin (NYSE:PH) traded up $1.69 during trading hours on Thursday, reaching $210.04. 862,600 shares of the company’s stock were exchanged, compared to its average volume of 850,333. Parker-Hannifin has a 12-month low of $141.06 and a 12-month high of $210.35. The company has a market capitalization of $27,980.00, a price-to-earnings ratio of 26.96, a PEG ratio of 1.88 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.22. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. sell-side analysts expect that Parker-Hannifin will post 9.61 EPS for the current year.

In other Parker-Hannifin news, VP Thomas C. Gentile sold 326 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $181.89, for a total transaction of $59,296.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Lee C. Banks sold 5,286 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total value of $985,204.68. Following the transaction, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at approximately $21,025,155.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,495 shares of company stock worth $4,127,941. 1.12% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Parker-Hannifin by 1.0% in 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 buying an additional 90,732 shares during the last quarter. BlackRock Inc. grew its stake in shares of Parker-Hannifin by 3.6% during the 2nd quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock valued at $1,352,775,000 after purchasing an additional 298,047 shares during the period. Longview Partners Guernsey LTD grew its stake in shares of 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 valued at $947,463,000 after purchasing an additional 278,500 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of 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 valued at $336,317,000 after purchasing an additional 194,858 shares during the period. Finally, FMR LLC grew its stake in shares of Parker-Hannifin by 11.7% during the 2nd quarter. FMR LLC now owns 1,959,733 shares of the industrial products company’s stock valued at $313,205,000 after purchasing an additional 204,826 shares during the period. 78.05% of the stock is owned by institutional investors and hedge funds.

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Parker-Hannifin Company Profile

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.

The Fly

Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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