Parker-Hannifin (NYSE:PH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $236.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 11.88% from the stock’s current price.

According to Zacks, “Parker-Hannifin’s shares have outperformed the industry’s average, over the past one year. Parker-Hannifin has a robust earnings surprise history, with consecutive earnings beats in the four trailing quarters. Going forward, the company expects to gain traction from improving demand, incremental savings from its realignment actions and its revamped Win Strategy. The company anticipates that its revamped Win strategy will help deliver growth rate of 8% in earnings, over the next five years. Further, its diligent restructuring actions add to its strength. Further, its two strategic acquisitions — CLARCOR and Helac Corp., will boost its filtration and Hydraulics businesses respectively. However, prolonged sluggishness in the key natural resources markets is proving to be one of the major concerns for the company. Moreover, strengthening of the U.S. dollar and escalating restructuring charges are expected to hurt its financials.”

Other equities analysts have also issued research reports about the stock. Robert W. Baird upped their price target on shares of Parker-Hannifin from $183.00 to $194.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Citigroup upped their price target on shares of Parker-Hannifin from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. KeyCorp restated a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin in a research report on Thursday, October 12th. ValuEngine lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Buckingham Research began coverage on shares of Parker-Hannifin in a research report on Tuesday, October 17th. They set a “buy” rating and a $205.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $198.21.

Parker-Hannifin (PH) traded up $0.45 during trading on Thursday, hitting $210.94. 902,469 shares of the stock traded hands, compared to its average volume of 832,627. The company has a market capitalization of $28,100.00, a price-to-earnings ratio of 27.08, a P/E/G ratio of 1.86 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. Parker-Hannifin has a fifty-two week low of $141.06 and a fifty-two week high of $212.80.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.02 by $0.22. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The company’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.61 earnings per share. research analysts expect that Parker-Hannifin will post 9.71 earnings per share for the current year.

In other Parker-Hannifin news, COO Lee C. Banks sold 5,286 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.38, for a total value of $985,204.68. Following the completion of the sale, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at approximately $21,025,155.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert W. Bond sold 5,517 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $181.72, for a total transaction of $1,002,549.24. Following the completion of the sale, the vice president now directly owns 28,265 shares of the company’s stock, valued at $5,136,315.80. The disclosure for this sale can be found here. Insiders sold 22,495 shares of company stock valued at $4,127,941 in the last ninety days. Corporate insiders own 1.12% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. IHT Wealth Management LLC lifted its holdings in Parker-Hannifin by 20.8% in the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 20 shares during the last quarter. BT Investment Management Ltd acquired a new stake in Parker-Hannifin in the 2nd quarter valued at about $124,000. Steward Partners Investment Advisory LLC acquired a new stake in Parker-Hannifin in the 3rd quarter valued at about $168,000. Sun Life Financial INC lifted its holdings in Parker-Hannifin by 8,108.3% in the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock valued at $157,000 after acquiring an additional 973 shares during the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in Parker-Hannifin in the 2nd quarter valued at about $167,000. 78.05% of the stock is owned by institutional investors.

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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.

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Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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