Robert W. Baird Raises Price Target on Parker-Hannifin (NYSE:PH) to $654.00

Parker-Hannifin (NYSE:PH – Free Report) raised their price target on Robert W. Baird from $622.00 to $654.00 in a report released on Friday morning, Benzinga reports. They are currently outperforming the industrial products company’s stock.

Other research analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a buy rating in a research report on Friday, May 17th. KeyCorp boosted their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the company an overweight rating in a report on Thursday, April 11th. Truist Financial boosted their price target on Parker-Hannifin from $611.00 to $621.00 and gave the company a buy rating in a research note on Tuesday, July 2nd. Raymond James began coverage on Parker-Hannifin in a research report on Friday, June 28th. They set an outperform rating and a $610.00 price target on the stock. Finally, Barclays decreased their price objective on Parker-Hannifin from $618.00 to $610.00 and set an overweight rating for the company in a report on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Parker-Hannifin presently has an average rating of Moderate Buy and a consensus price target of $615.43, based on data from MarketBeat.com.

Read the latest stock analysis on PH

Parker-Hannifin stock falls 0.5%

NYSE PH traded down $2.99 ​​on Friday, reaching $566.82. The company had a trading volume of 97,028 shares, compared to its average volume of 666,692. The company has a quick ratio of 0.50, a current ratio of 0.87, and a debt-to-equity ratio of 0.63. The company’s fifty day moving average is $525.78 and its 200 day moving average is $532.03. Parker-Hannifin has a 52-week low of $362.49 and a 52-week high of $576.54. The stock has a market cap of $72.86 billion, a P/E ratio of 26.85, a P/E/G ratio of 1.98 and a beta of 1.44.

Parker-Hannifin (NYSE:PH – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a net margin of 13.95% and a return on equity of 29.40%. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the firm posted EPS of $6.08. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. sell-side analysts anticipate that Parker-Hannifin will post 24.85 earnings per share for the current fiscal year.

Institutional investors are weighing in on Parker-Hannifin

Hedge funds have recently made changes to their business positions. Vanguard Group Inc. increased its position in Parker-Hannifin by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock worth $5,872,694,000 after purchasing an additional 105,475 shares during the last quarter. Norges Bank acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at about $665,188,000. Boston Partners boosted its holdings in shares of Parker-Hannifin by 4.1% in the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after buying an additional 43,535 shares during the period. AMF Tjanstepension AB grew its stake in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after purchasing an additional 141,862 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Parker-Hannifin by 3.7% during the fourth quarter. Baird Financial Group Inc. now owns 694,970 shares of the industrial products company’s stock valued at $320,173,000 after buying an additional 25,060 shares during the period. 82.44% of shares are currently held by institutional investors.

About Parker-Hannifin

(Get a free report)

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 solutions, shielding, thermal products and systems, adhesives, coatings and vibration and noise harshness solutions; filters, systems and diagnostic solutions to ensure the purity and removal of contaminants from fuel, air, oil, water and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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