Parker-Hannifin Corporation (NYSE:PH) Receives $1,091.38 Average PT from Analysts

Parker-Hannifin Corporation (NYSE:PH) has earned a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $1,100.00.

Several brokerages recently issued reports on PH. Wells Fargo & Company reduced their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 26th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. dropped their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Truist Financial upped their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Finally, BNP Paribas Exane reaffirmed an “outperform” rating and set a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th.

Hedge Funds Weigh In On Parker-Hannifin

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Parker-Hannifin by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock worth $9,793,843,000 after purchasing an additional 33,606 shares during the last quarter. BlackRock Inc. purchased a new stake in Parker-Hannifin during the 2nd quarter valued at about $10,163,362,000. Bank of America Corp DE increased its stake in Parker-Hannifin by 0.6% during the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock valued at $3,451,584,000 after purchasing an additional 22,305 shares in the last quarter. Capital World Investors raised its holdings in Parker-Hannifin by 0.6% in the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock worth $2,286,038,000 after buying an additional 16,703 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock worth $1,874,862,000 after buying an additional 22,367 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $1,055.34 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The company has a market cap of $133.07 billion, a PE ratio of 37.04, a P/E/G ratio of 2.75 and a beta of 1.12. The business has a 50 day moving average of $971.32 and a 200 day moving average of $945.51. Parker-Hannifin has a 52 week low of $715.37 and a 52 week high of $1,099.94.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities research analysts forecast that Parker-Hannifin will post 34.88 earnings per share for the current year.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.