Truist raised the price target for the Parker-Hannifin Corp. (NYSE:PH) stock to “a Buy”. The rating was released on March 14, 2024, according to finviz. We previously noted in another research note published on March 01, 2024 by TD Cowen that upgraded the stock from an Underperform to a Market perform with a price target of $500 for PH stock. The stock was upgraded by Deutsche Bank, who disclosed in a research note on November 09, 2023, from Hold to Buy and set the price objective to $506. In their research brief published October 05, 2023, BofA Securities analysts upgraded the Parker-Hannifin Corp. stock from Neutral to Buy with a price target of $475.
The latest trade, Performances and Moving Averages give us the following Picture
The firm’s stock price fluctuated 2.10% within the last five trades and 0.04% within the last 30 trades, which was a significant change from the beginning of this year. Despite the fact that the share price increased 47.18% in the last 6 months and 16.44% was added to its value over the previous 3 months. PH stock is trading at a margin of -0.29%, 1.51% and 21.39% apart from the 20-Day, 50-Day and 200-Day Simple Moving Average prices.
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As of the close of trading, PH deals in the Industrials domain. The stock is trading -3.64 percent below its 52-week high and 77.28 percent above its 52-week low. For example, looking both at the price and the high and low measurements of 52 weeks will give you a clearer picture of the direction the price is heading. The firm’s Weighted Alpha is 67.37. A positive weighted alpha indicates the firm has done well over the course of the year, whereas one below 0 indicates that the firm has done poorly.
What Does Parker-Hannifin Corp.’s Profitability and Valuation Ratios Tell Us About the Stock?
With regard to the profitability of the company, the operating margin is currently at 18.78 percent and the profit margin is 13.28 percent, and the company has reported a gross margin of 35.56 percent. The profit margin, also known as the revenue ratio or gross profit ratio, is an efficiency figure used to estimate the business’s profitability by comparing net income and sales. The higher the number, the more profits are generated for the company and vice versa.
The stock’s market cap achieved a total value of $70.55 billion as of the last trading session. Market capitalization is the total value of all outstanding shares of a corporation and it is used to measure a company’s market value. The price-to-earnings ratio for Parker-Hannifin Corp. (NYSE:PH) is 27.19. The price-to-earnings ratio is a method of assessing corporate values by comparing them to their per-share profit. Forward P/E stands at 20.82. Forward price-to-earnings is calculated using predicted earnings for the next financial year’s P/E determination. The stock has achieved an effective Price-to-Sales Ratio of 3.56 that mirrors the cost to be found for sales by the market. The firm managed a Price-to-Book ratio of 6.24, which equates the market value of a stock with its book value.
Is Insider Trading a Real Thing?
Almost all investors and traders prefer to invest in shares controlled by the management of a corporation as a management company will be more likely to run the business itself and to never conduct things against the management’s desires and will always try to do what is best for their shareholders. Currently, 0.56 percent of Parker-Hannifin Corp. shares are owned by insiders, and 84.78 percent are held by financial institutions. Parmentier Jennifer A, the Chief Executive Officer at Parker-Hannifin Corp. (PH) has sold 3,307 shares of firm on Feb 07 ’24 at a price of $516.69 against the total amount of $1.71 million. In another inside trade, Scott Patrick, VP & Pres.-Fluid Conn. of Parker-Hannifin Corp. (NYSE:PH) sold 787 shares of the firm on Feb 07 ’24 for a total worth of $0.4 million at a price of $514.30. An inside trade which took place on Feb 02 ’24, EVP-HR & External Affairs of Parker-Hannifin Corp. Hart Mark J sold 5,197 shares of firm against total price of $2.61 million at the cost of $502.94 per share.
