Zacks Research Upgrades Parker-Hannifin (NYSE:PH) to “Strong-Buy”

Parker-Hannifin (NYSE:PH) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

PH has been the subject of a number of other research reports. Jefferies Financial Group increased their target price on shares of Parker-Hannifin from $1,100.00 to $1,275.00 in a research report on Friday, August 7th. Citigroup increased their target price on Parker-Hannifin from $1,232.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. BNP Paribas Exane lifted their price target on Parker-Hannifin from $1,220.00 to $1,270.00 and gave the company an “outperform” rating in a research report on Friday, September 18th. Susquehanna upped their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a research note on Friday, August 7th. Finally, Stifel Nicolaus set a $1,002.00 price objective on Parker-Hannifin in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,146.35.

Parker-Hannifin Stock Up 0.8%

Shares of NYSE PH opened at $972.53 on Tuesday. The company has a market cap of $122.64 billion, a price-to-earnings ratio of 33.40, a PEG ratio of 2.28 and a beta of 1.15. Parker-Hannifin has a 12 month low of $806.22 and a 12 month high of $1,099.94. The stock has a 50-day moving average price of $945.68 and a two-hundred day moving average price of $949.65. The company has a current ratio of 0.94, a quick ratio of 0.55 and a debt-to-equity ratio of 0.79.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, November 5th. The industrial products company reported $8.90 earnings per share for the quarter, beating the consensus estimate of $8.21 by $0.69. Parker-Hannifin had a net margin of 16.62% and a return on equity of 28.80%. The firm had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same period in the previous year, the firm posted $7.22 earnings per share. The business’s revenue was up 17.9% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 36.450-37.250 EPS. As a group, analysts forecast that Parker-Hannifin will post 37.07 earnings per share for the current fiscal year.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 602 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the transaction, the vice president owned 4,399 shares of the company’s stock, valued at approximately $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Parker-Hannifin in the second quarter valued at approximately $10,163,362,000. Bank of America Corp DE acquired a new stake in shares of Parker-Hannifin in the 2nd quarter worth $3,273,507,000. Deutsche Bank AG acquired a new stake in shares of Parker-Hannifin in the 2nd quarter worth $987,587,000. Bank of New York Mellon Corp purchased a new position in shares of Parker-Hannifin during the 2nd quarter worth $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Parker-Hannifin during the 2nd quarter worth about $305,628,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

About Parker-Hannifin

Parker-Hannifin is a global manufacturer of motion and control technologies. Its products include hydraulic and pneumatic systems, fluid connectors, filtration and sealing products, electromechanical components, and systems for aerospace and climate control applications. The company serves customers across industries such as aerospace, manufacturing, transportation, energy, and life sciences. Its operations span markets around the world, with businesses organized around industrial and aerospace products and services.