KeyCorp Weighs in on Parker

Parker-Hannifin Co. (NYSE:PH - Free Report) - Research analysts at KeyCorp issued their Q1 2024 earnings per share (EPS) estimates for shares of Parker-Hannifin in a research report issued to clients and investors on Thursday, August 3rd. KeyCorp analyst J. Hammond anticipates that the industrial products company will post earnings per share of $5.39 for the quarter. KeyCorp has a "Overweight" rating and a $460.00 price target on the stock. The consensus estimate for Parker-Hannifin's current full-year earnings is $22.50 per share. KeyCorp also issued estimates for Parker-Hannifin's Q2 2024 earnings at $5.50 EPS, Q3 2024 earnings at $6.42 EPS and FY2025 earnings at $25.25 EPS.

A number of other equities research analysts have also issued reports on PH. Bank of America lifted their target price on shares of Parker-Hannifin from $395.00 to $435.00 in a research note on Friday, July 14th. Citigroup lifted their target price on shares of Parker-Hannifin from $370.00 to $425.00 and gave the company a "neutral" rating in a research note on Tuesday, July 18th. StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, August 2nd. Evercore ISI increased their target price on shares of Parker-Hannifin from $413.00 to $440.00 in a research report on Tuesday, May 9th. Finally, Wells Fargo & Company boosted their price target on Parker-Hannifin from $380.00 to $425.00 in a research report on Monday, July 10th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $429.29.

NYSE:PH opened at $414.15 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.88 and a quick ratio of 0.51. The stock has a market cap of $53.18 billion, a PE ratio of 25.88, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52. The stock's 50-day moving average is $379.78 and its two-hundred day moving average is $348.42. Parker-Hannifin has a fifty-two week low of $235.69 and a fifty-two week high of $421.90.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $6.08 earnings per share for the quarter, topping the consensus estimate of $5.48 by $0.60. The firm had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $5.01 billion. Parker-Hannifin had a net margin of 10.93% and a return on equity of 29.26%. The company's quarterly revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the company posted $5.16 EPS.

In related news, VP Mark T. Czaja sold 600 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $337.00, for a total transaction of $202,200.00. Following the completion of the sale, the vice president now owns 2,241 shares in the company, valued at approximately $755,217. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP William R. Bowman sold 2,403 shares of the company's stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $357.65, for a total transaction of $859,432.95. Following the sale, the vice president now owns 11,152 shares in the company, valued at $3,988,512.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Mark T. Czaja sold 600 shares of the company's stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $337.00, for a total transaction of $202,200.00. Following the completion of the sale, the vice president now directly owns 2,241 shares in the company, valued at $755,217. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,762 shares of company stock worth $1,682,454. 1.37% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC increased its holdings in Parker-Hannifin by 4.9% in the 2nd quarter. Parallel Advisors LLC now owns 2,635 shares of the industrial products company's stock worth $1,028,000 after purchasing an additional 123 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Parker-Hannifin by 6.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 333,083 shares of the industrial products company's stock worth $129,916,000 after acquiring an additional 20,756 shares during the period. Cibc World Markets Corp increased its holdings in Parker-Hannifin by 132.0% in the second quarter. Cibc World Markets Corp now owns 15,046 shares of the industrial products company's stock worth $5,869,000 after purchasing an additional 8,560 shares in the last quarter. Main Street Financial Solutions LLC lifted its stake in Parker-Hannifin by 6.2% in the second quarter. Main Street Financial Solutions LLC now owns 2,150 shares of the industrial products company's stock valued at $839,000 after buying an additional 126 shares during the period. Finally, Savant Capital LLC boosted its holdings in shares of Parker-Hannifin by 7.6% during the 2nd quarter. Savant Capital LLC now owns 2,798 shares of the industrial products company's stock worth $1,091,000 after buying an additional 198 shares in the last quarter. Institutional investors and hedge funds own 81.62% of the company's stock.

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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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