Parker-Hannifin (NYSE:PH) Research Coverage Started at Truist Financial

Posted by Defense World Staff on Mar 16th, 2024

Investment analysts at Truist Financial started coverage on shares of Parker-Hannifin (NYSE:PH – Get Free Report) in a research note issued on Thursday, Marketbeat reports. The firm set a “buy” rating and a $602.00 price target on the industrial products company’s stock. Truist Financial’s target price would indicate a potential upside of 12.44% from the stock’s previous close.

Several other analysts also recently weighed in on PH. The Goldman Sachs Group restated a “buy” rating and issued a $551.00 price target on shares of Parker-Hannifin in a research note on Tuesday, January 2nd. Barclays upped their price target on Parker-Hannifin from $500.00 to $558.00 and gave the stock an “overweight” rating in a research note on Monday, February 5th. KeyCorp upped their price target on Parker-Hannifin from $500.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Wolfe Research reiterated a “peer perform” rating on shares of Parker-Hannifin in a research note on Monday, December 11th. Finally, Wells Fargo & Company increased their price target on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average target price of $504.56.

View Our Latest Analysis on PH

Parker-Hannifin Stock Down 0.2 %

PH stock opened at $535.42 on Thursday. Parker-Hannifin has a fifty-two week low of $300.86 and a fifty-two week high of $544.99. The business’s 50 day moving average price is $504.12 and its two-hundred day moving average price is $445.99. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The company has a market capitalization of $68.75 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 1.99 and a beta of 1.52.

Parker-Hannifin (NYSE:PH – Get Free Report) last posted its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the business earned $4.76 EPS. The business’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, analysts forecast that Parker-Hannifin will post 24.18 earnings per share for the current fiscal year.

Insider Activity at Parker-Hannifin

In related news, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $6,693,299.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Insiders sold 12,079 shares of company stock worth $6,099,566 over the last three months. Company insiders own 1.03% of the company’s stock.

Institutional Trading of Parker-Hannifin

Several large investors have recently bought and sold shares of the business. Beaumont Asset Management L.L.C. grew its stake in Parker-Hannifin by 0.8% during the 4th quarter. Beaumont Asset Management L.L.C. now owns 3,071 shares of the industrial products company’s stock valued at $1,415,000 after acquiring an additional 24 shares in the last quarter. Moors & Cabot Inc. grew its stake in Parker-Hannifin by 1.0% during the 2nd quarter. Moors & Cabot Inc. now owns 2,520 shares of the industrial products company’s stock valued at $983,000 after acquiring an additional 25 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC grew its stake in shares of Parker-Hannifin by 0.7% in the 3rd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,637 shares of the industrial products company’s stock valued at $1,417,000 after buying an additional 25 shares during the period. M&R Capital Management Inc. grew its stake in shares of Parker-Hannifin by 25.0% in the 4th quarter. M&R Capital Management Inc. now owns 125 shares of the industrial products company’s stock valued at $58,000 after buying an additional 25 shares during the period. Finally, Private Trust Co. NA grew its stake in shares of Parker-Hannifin by 0.7% in the 4th quarter. Private Trust Co. NA now owns 3,755 shares of the industrial products company’s stock valued at $1,730,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 82.25% of the company’s stock.

Parker-Hannifin Company Profile

(Get 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, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove 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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