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

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

Several other brokerages have also commented on PH. Barclays cut their price objective on Parker-Hannifin from $791.00 to $750.00 and set an “overweight” rating for the company in a report on Monday, March 10th. Wolfe Research lowered Parker-Hannifin from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 3rd. Citigroup initiated coverage on Parker-Hannifin in a research report on Friday, February 7th. They set a “buy” rating and a $795.00 target price on the stock. 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 report on Friday, January 31st. Finally, StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $723.41.

Parker-Hannifin Stock Up 13.6 %

Parker-Hannifin stock opened at $596.76 on Tuesday. The firm has a market cap of $76.81 billion, a price-to-earnings ratio of 24.70, a PEG ratio of 2.85 and a beta of 1.39. The stock has a fifty day simple moving average of $636.52 and a two-hundred day simple moving average of $651.76. Parker-Hannifin has a 12 month low of $488.45 and a 12 month high of $718.44. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 26.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PH. Norges Bank purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $1,106,132,000. GAMMA Investing LLC grew its holdings in Parker-Hannifin by 66,111.8% in the 1st quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company’s stock valued at $1,054,870,000 after buying an additional 1,732,791 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in Parker-Hannifin by 116,370.3% in the 4th quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company’s stock valued at $725,229,000 after buying an additional 1,139,265 shares in the last quarter. Royal Bank of Canada grew its holdings in Parker-Hannifin by 99.8% in the 4th quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company’s stock valued at $1,448,241,000 after buying an additional 1,137,564 shares in the last quarter. Finally, Capital World Investors purchased a new stake in Parker-Hannifin in the 4th quarter valued at $418,174,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

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.