Parker-Hannifin (NYSE:PH) Raised to Hold at Wells Fargo & Company

Parker-Hannifin (NYSE:PH) was upgraded by research analysts at Wells Fargo & Company to a “hold” rating in a research report issued to clients and investors on Thursday, Zacks reports.

Several other research analysts have also commented on PH. BMO Capital Markets reiterated an “outperform” rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. UBS Group raised their target price on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Sanford C. Bernstein increased their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Finally, Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a research report on Friday, August 7th. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,119.55.

Parker-Hannifin Price Performance

PH opened at $976.02 on Thursday. The firm has a market capitalization of $123.09 billion, a PE ratio of 34.26, a price-to-earnings-growth ratio of 3.04 and a beta of 1.13. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The business’s 50-day moving average is $988.26 and its two-hundred day moving average is $944.33. Parker-Hannifin has a 1 year low of $715.37 and a 1 year high of $1,099.94.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the firm posted $7.69 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts anticipate that Parker-Hannifin will post 34.95 earnings per share for the current fiscal year.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares in the company, valued at approximately $4,577,027.53. The trade was a 12.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Parker-Hannifin

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Archer Investment Corp acquired a new position in Parker-Hannifin during the second quarter valued at $28,000. NFSG Corp grew its position in Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 17 shares during the period. First Command Advisory Services Inc. grew its position in Parker-Hannifin by 1,133.3% during the 4th quarter. First Command Advisory Services Inc. now owns 37 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 34 shares during the period. Bell Investment Advisors Inc purchased a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $35,000. Finally, Brown Lisle Cummings Inc. raised its stake in shares of Parker-Hannifin by 76.0% during the 1st quarter. Brown Lisle Cummings Inc. now owns 44 shares of the industrial products company’s stock valued at $39,000 after buying an additional 19 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE:PH) is a diversified manufacturer of motion and control technologies. The company develops and produces systems and components that manage the movement and flow of liquids, gases and other materials for industrial, mobile and aerospace applications.

Its products include hydraulic and pneumatic systems, fluid connectors, filtration and process-control equipment, electromechanical technologies, seals, thermal-management solutions and aerospace systems. Parker-Hannifin serves manufacturers and operators in markets such as factory automation, transportation, energy, construction, life sciences and aviation.

Founded in 1917, Parker-Hannifin is headquartered in Cleveland, Ohio, and serves customers through manufacturing, distribution and sales operations across North America, Europe, Asia and other international markets.