Deutsche Bank Aktiengesellschaft Increases Parker-Hannifin (NYSE:PH) Price Target to $645.00

Parker-Hannifin (NYSE:PH) had its price target hoisted by research analysts at Deutsche Bank Aktiengesellschaft from $595.00 to $645.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 13.39% from the company’s previous close.

Other analysts have also issued reports about the company. Robert W. Baird lifted their price target on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday. Argus boosted their price target on shares of Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday. Stifel Nicolaus dropped their target price on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Finally, KeyCorp raised their price target on shares of Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $615.43.

Parker-Hannifin Stock Up 0.1 %

Shares of NYSE PH traded up $0.75 during mid-day trading on Friday, reaching $568.83. 370,584 shares of the company’s stock traded hands, compared to its average volume of 666,708. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50. Parker-Hannifin has a 1-year low of $362.49 and a 1-year high of $576.54. The stock has a market cap of $73.12 billion, a P/E ratio of 26.80, a PEG ratio of 2.04 and a beta of 1.44. The business has a 50-day simple moving average of $525.02 and a 200 day simple moving average of $530.46.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the company earned $6.08 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts expect that Parker-Hannifin will post 24.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PH. Brown Brothers Harriman & Co. raised its stake in shares of Parker-Hannifin by 250.3% during the second quarter. Brown Brothers Harriman & Co. now owns 1,524 shares of the industrial products company’s stock worth $771,000 after acquiring an additional 1,089 shares in the last quarter. Vista Capital Partners Inc. grew its holdings in shares of Parker-Hannifin by 13.6% during the 2nd quarter. Vista Capital Partners Inc. now owns 426 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 51 shares during the last quarter. J.W. Cole Advisors Inc. raised its position in Parker-Hannifin by 6.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,273 shares of the industrial products company’s stock worth $1,150,000 after purchasing an additional 143 shares during the period. Prosperity Consulting Group LLC lifted its stake in Parker-Hannifin by 59.6% in the second quarter. Prosperity Consulting Group LLC now owns 2,198 shares of the industrial products company’s stock worth $1,112,000 after purchasing an additional 821 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Parker-Hannifin by 18.1% during the second quarter. Envestnet Asset Management Inc. now owns 652,539 shares of the industrial products company’s stock valued at $330,061,000 after buying an additional 99,959 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Company Profile

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.