Parker-Hannifin (PH) – Investment Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for Parker-Hannifin (NYSE: PH):

• 1/20/2023 – Parker-Hannifin had its price target raised by analysts at Stifel Nicolaus from $334.00 to $336.00. They now have a “buy” rating on the stock.
• 1/19/2023 – Parker-Hannifin had its price target raised by analysts at Wells Fargo & Company from $335.00 to $341.00. They now have an “overweight” rating on the stock.
• 1/13/2023 – Parker-Hannifin had its price target raised by analysts at Mizuho from $300.00 to $310.00. They now have a “neutral” rating on the stock.
• 1/6/2023 – Parker-Hannifin is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $311.00 price target on the stock.
• 1/5/2023 – Parker-Hannifin had its price target raised by analysts at Wells Fargo & Company from $315.00 to $335.00. They now have an “overweight” rating on the stock.
• 1/5/2023 – Parker-Hannifin had its price target raised by analysts at Barclays PLC from $330.00 to $343.00. They now have an “overweight” rating on the stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock traded down $3.33 during mid-day trading on Wednesday, hitting $309.36. The company had a trading volume of 236,712 shares, compared to its average volume of 775,938. The company has a current ratio of 1.30, a quick ratio of 0.73 and a debt-to-equity ratio of 1.40. Parker-Hannifin Co. has a 12-month low of $230.44 and a 12-month high of $340.00. The company’s fifty day moving average is $299.50 and its 200-day moving average is $283.06. The company has a market capitalization of $39.72 billion, a price-to-earnings ratio of 32.19, a P/E/G ratio of 1.38 and a beta of 1.52.

Parker-Hannifin (NYSE:PH – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The industrial products company reported $4.74 earnings per share for the quarter, topping the consensus estimate of $4.15 by $0.59. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $3.95 billion. Parker-Hannifin had a net margin of 7.67% and a return on equity of 28.26%. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.26 EPS. Equities research analysts predict that Parker-Hannifin Co. will post 19.12 EPS for the current year.

Hedge Funds Weigh In On Parker-Hannifin

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brinker Capital Investments LLC increased its stake in Parker-Hannifin by 39.1% during the second quarter. Brinker Capital Investments LLC now owns 3,694 shares of the industrial products company’s stock worth $909,000 after acquiring an additional 1,039 shares during the last quarter. NewEdge Wealth LLC acquired a new position in Parker-Hannifin during the 2nd quarter worth about $621,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Parker-Hannifin by 3.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 870,358 shares of the industrial products company’s stock worth $210,896,000 after acquiring an additional 25,072 shares in the last quarter. Pinnacle Associates Ltd. lifted its stake in Parker-Hannifin by 5.8% during the 2nd quarter. Pinnacle Associates Ltd. now owns 1,439 shares of the industrial products company’s stock worth $354,000 after acquiring an additional 79 shares in the last quarter. Finally, Raymond James Trust N.A. lifted its stake in Parker-Hannifin by 1.1% during the 3rd quarter. Raymond James Trust N.A. now owns 5,604 shares of the industrial products company’s stock worth $1,358,000 after acquiring an additional 63 shares in the last quarter. 81.32% of the stock is currently owned by institutional investors and hedge funds.

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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.