KeyCorp Cuts Parker-Hannifin (NYSE:PH) Price Target to $690.00

Parker-Hannifin (NYSE:PH) had its target price cut by KeyCorp from $790.00 to $690.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. KeyCorp’s price target would suggest a potential upside of 15.62% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. Citigroup initiated coverage on Parker-Hannifin in a research note on Friday, February 7th. They set a “buy” rating and a $795.00 price target on the stock. Wolfe Research downgraded Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a research note on Thursday, April 3rd. Barclays dropped their price target on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. Truist Financial lifted their target price on Parker-Hannifin from $788.00 to $842.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, UBS Group lowered their target price on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus price target of $723.41.

Parker-Hannifin Price Performance

PH stock opened at $596.76 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market capitalization of $76.81 billion, a P/E ratio of 24.70, a P/E/G ratio of 2.85 and a beta of 1.39. The business’s 50-day moving average is $636.52 and its two-hundred day moving average is $651.76. Parker-Hannifin has a 1 year low of $488.45 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 30th. The industrial products company reported $6.53 EPS for the quarter, beating analysts’ consensus estimates of $6.23 by $0.30. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Analysts anticipate that Parker-Hannifin will post 26.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Parker-Hannifin

A number of large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC grew its holdings in Parker-Hannifin by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company’s stock valued at $886,000 after buying an additional 15 shares during the last quarter. FFT Wealth Management LLC boosted its holdings in shares of Parker-Hannifin by 1.3% during 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 last quarter. GenTrust LLC boosted its holdings in shares of Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company’s stock worth $333,000 after purchasing an additional 15 shares during the last quarter. First Manhattan CO. LLC. boosted its holdings in shares of Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company’s stock worth $1,005,000 after purchasing an additional 15 shares during the last quarter. Finally, Grove Bank & Trust boosted its holdings in shares of Parker-Hannifin by 11.9% during the fourth quarter. Grove Bank & Trust now owns 150 shares of the industrial products company’s stock worth $95,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

About Parker-Hannifin

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.