Parker-Hannifin (NYSE:PH) Price Target Cut to $665.00 by Analysts at Citigroup
Citigroup has reduced its price target for Parker-Hannifin (NYSE:PH) from $795.00 to $665.00 while maintaining a "buy" rating. This new target suggests a potential upside of 16.82% from the current stock price. Other analysts have also adjusted their ratings, with Wolfe Research downgrading to "peer perform" and Wells Fargo raising their target to $775.00. Currently, Parker-Hannifin has a consensus rating of "Moderate Buy" and a price target of $705.35. The stock traded at $569.24, up 0.7% during trading hours.
Parker-Hannifin (NYSE:PH - Get Free Report) had its price objective reduced by stock analysts at Citigroup from $795.00 to $665.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the industrial products company's stock. Citigroup's price target points to a potential upside of 16.82% from the stock's current price.
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A number of other research firms also recently weighed in on PH. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. StockNews.com cut Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Wells Fargo & Company raised their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Evercore ISI upped their price target on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Finally, UBS Group lowered their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $705.35.
View Our Latest Stock Report on Parker-Hannifin
Parker-Hannifin Stock Up 0.7 %
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Shares of Parker-Hannifin stock traded up $3.87 during trading hours on Monday, reaching $569.24. 759,758 shares of the company's stock were exchanged, compared to its average volume of 711,872. Parker-Hannifin has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The stock has a market cap of $73.27 billion, a P/E ratio of 23.56, a P/E/G ratio of 2.85 and a beta of 1.39. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $631.27 and a two-hundred day moving average of $651.01.
Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. On average, sell-side analysts forecast that Parker-Hannifin will post 26.71 EPS for the current fiscal year.
Institutional Trading of Parker-Hannifin
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Institutional investors and hedge funds have recently modified their holdings of the business. Global Retirement Partners LLC boosted its stake in Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock valued at $886,000 after acquiring an additional 15 shares during the last quarter. FFT Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 1.3% in the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock worth $732,000 after purchasing an additional 15 shares during the period. GenTrust LLC raised its position in shares of Parker-Hannifin by 2.9% during the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock valued at $333,000 after buying an additional 15 shares in the last quarter. First Manhattan CO. LLC. increased its position in shares of Parker-Hannifin by 1.0% during the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock valued at $1,005,000 after purchasing an additional 15 shares during the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of Parker-Hannifin by 11.9% in the 4th quarter. Grove Bank & Trust now owns 150 shares of the industrial products company's stock valued at $95,000 after purchasing an additional 16 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.
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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