Analysts Set Parker-Hannifin Corporation (NYSE:PH) Target Price at $1,091.38

Shares of Parker-Hannifin Corporation (NYSE:PH) have been given a consensus rating of “Moderate Buy” by the twenty-two brokerages that are covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $1,100.00.

Several research firms have weighed in on PH. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a research note on Monday, May 11th. JPMorgan Chase & Co. reduced their price target on shares of 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. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a report on Friday, August 7th. Susquehanna boosted their price objective on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research report on Friday, August 7th. Finally, Truist Financial increased their price objective on shares of 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.

Parker-Hannifin Price Performance

Shares of PH opened at $1,055.30 on Tuesday. Parker-Hannifin has a 52 week low of $715.37 and a 52 week high of $1,099.94. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The firm has a market cap of $133.06 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. The stock has a 50 day moving average of $974.79 and a 200-day moving average of $946.50.

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

Institutional Trading of Parker-Hannifin

A number of institutional investors and hedge funds have recently made changes to their positions in PH. Vanguard Group Inc. boosted its position in Parker-Hannifin by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after purchasing an additional 33,606 shares during the period. BlackRock Inc. acquired a new stake in Parker-Hannifin in the second quarter worth $10,163,362,000. Bank of America Corp DE lifted its stake in Parker-Hannifin by 0.6% in the fourth 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 buying an additional 22,305 shares during the last quarter. Capital World Investors lifted its stake 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 valued at $2,286,038,000 after buying an additional 16,703 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Parker-Hannifin by 1.1% during the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after acquiring an additional 22,367 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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.