Stifel Nicolaus Boosts Parker-Hannifin (PH) Price Target to $212.00

Parker-Hannifin (NYSE:PH) had its target price hoisted by Stifel Nicolaus from $200.00 to $212.00 in a report released on Monday. The firm presently has a “buy” rating on the industrial products company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 12.60% from the company’s current price.

PH has been the topic of several other reports. Jefferies Financial Group reissued a “$162.10” rating and issued a $170.00 target price on shares of Parker-Hannifin in a research report on Wednesday, July 18th. Wells Fargo & Co reissued a “buy” rating on shares of Parker-Hannifin in a research report on Tuesday, May 29th. BMO Capital Markets reissued a “buy” rating and issued a $190.00 target price on shares of Parker-Hannifin in a research report on Thursday, July 19th. Robert W. Baird set a $190.00 target price on shares of Parker-Hannifin and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Buckingham Research raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating in a research report on Friday, September 14th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Parker-Hannifin presently has an average rating of “Hold” and an average target price of $189.44.

Parker-Hannifin stock opened at $188.27 on Monday. Parker-Hannifin has a 12-month low of $152.47 and a 12-month high of $212.80. The stock has a market cap of $25.23 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.48 and a beta of 1.44. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.59.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $0.31. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The company had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the company earned $2.45 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. equities research analysts expect that Parker-Hannifin will post 11.4 EPS for the current fiscal year.

In other news, VP Joseph R. Leonti sold 1,605 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $176.56, for a total transaction of $283,378.80. Following the sale, the vice president now owns 15,731 shares in the company, valued at $2,777,465.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William R. Bowman sold 2,400 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total transaction of $420,864.00. Following the sale, the vice president now owns 1,325 shares in the company, valued at approximately $232,352. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bbva Compass Bancshares Inc. raised its stake in shares of Parker-Hannifin by 1.0% during the second quarter. Bbva Compass Bancshares Inc. now owns 31,180 shares of the industrial products company’s stock valued at $4,859,000 after purchasing an additional 318 shares during the period. Cambria Investment Management L.P. increased its stake in shares of Parker-Hannifin by 2.7% in the first quarter. Cambria Investment Management L.P. now owns 12,298 shares of the industrial products company’s stock worth $2,103,000 after buying an additional 320 shares during the last quarter. MUFG Americas Holdings Corp increased its stake in shares of Parker-Hannifin by 1.5% in the second quarter. MUFG Americas Holdings Corp now owns 22,152 shares of the industrial products company’s stock worth $3,452,000 after buying an additional 326 shares during the last quarter. Riverhead Capital Management LLC increased its stake in shares of Parker-Hannifin by 6.3% in the second quarter. Riverhead Capital Management LLC now owns 5,697 shares of the industrial products company’s stock worth $888,000 after buying an additional 338 shares during the last quarter. Finally, Summit Trail Advisors LLC increased its stake in shares of Parker-Hannifin by 20.0% in the first quarter. Summit Trail Advisors LLC now owns 2,066 shares of the industrial products company’s stock worth $220,000 after buying an additional 345 shares during the last quarter. Institutional investors own 79.52% of the company’s stock.

About Parker-Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; 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; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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Analyst Recommendations for Parker-Hannifin (NYSE:PH)

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