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Parker-Hannifin (NYSE:PH) Rating Increased to Buy at StockNews.com

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Parker-Hannifin (NYSE:PH) Rating Increased to Buy at StockNews.com

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A number of other research firms have also recently weighed in on PH. Robert W. Baird raised their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. TD Cowen raised their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a research note on Tuesday, November 12th. KeyCorp upped their price target on shares of Parker-Hannifin from $775.00 to $790.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Citigroup initiated coverage on shares of Parker-Hannifin in a research report on Friday. They issued a "buy" rating and a $795.00 price objective for the company. Finally, Barclays reduced their target price on shares of Parker-Hannifin from $800.00 to $791.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $729.18.

Get Our Latest Research Report on PH

Shares of PH opened at $683.62 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The company has a 50-day moving average price of $665.96 and a two-hundred day moving average price of $633.41. The stock has a market cap of $88.00 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 2.90 and a beta of 1.45. Parker-Hannifin has a 12 month low of $492.71 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, topping 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%. Equities analysts predict that Parker-Hannifin will post 26.67 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of PH. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $25,000. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at about $25,000. Prestige Wealth Management Group LLC increased its holdings in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after acquiring an additional 25 shares in the last quarter. Bank of New Hampshire acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $35,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $39,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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