Raymond James has recently initiated Parker-Hannifin Corp (PH) stock to Outperform rating, as announced on June 28, 2024, according to Finviz. Earlier, on May 28, 2024, Mizuho had raised the stock from a Neutral to Buy, setting a price target of $650 for PH stock. Truist also initiated Buy rating with a price target of $602. Additionally, TD Cowen raised Market Perform rating on March 1, 2024, with a target price of $500. Wolfe Research analysts, in their report published on December 11, 2023, also reduced Peer Perform rating for Parker-Hannifin Corp’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Parker-Hannifin Corp (PH) Stock Trading Recap
On Wednesday, Parker-Hannifin Corp (PH) stock saw a decline, ending the day at $624.29 which represents a decrease of $-0.82 or -0.13% from the prior close of $625.11. The stock opened at $623 and touched a low of $619.79 during the day, reaching a high of $627.99. The volume of shares traded was 0.83 million exceeding the average volume of 0.58 million.
PH Stock Performance and Moving Averages
In recent trading, Parker-Hannifin Corp (PH) stock price has shown some volatility, fluctuating -0.86% over the last five trades and -0.93% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 14.98%, and it has gained 16.79% in the previous three months. Currently, PH is trading at -1.16%, 1.78%, and 13.05% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, PH, a Industrials sector stock, is trading -3.45% below its 52-week high but remains 72.22% above its 52-week low. The Average True Range (ATR) (14 days) of 9.42 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Parker-Hannifin Corp’s Profitability and Valuation Ratios
Parker-Hannifin Corp’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 19.61% and a profit margin of 14.27%, with a gross margin of 14.98%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Parker-Hannifin Corp’s market capitalization stands at $80.33 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 28.64, assessing the company’s valuation relative to its earnings. The forward P/E ratio, which uses projected earnings for the next financial year, is 21.18. Additionally, the Price-to-Sales Ratio is 4.03, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 6.65, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 0.51% of Parker-Hannifin Corp (PH)’s shares, while financial institutions hold 83.09%.
Notable insider trades include Bracht Berend, VP & Pres.- Motion Sys. Grp. at Parker-Hannifin Corp (PH), who sold 850 shares on Aug 26 ’24, at $592.92 each, totaling $0.50 million. On Aug 22 ’24, Parmentier Jennifer A, Chief Executive Officer, sold 2641 shares for $588.59 each, amounting to $1.55 million. Additionally, on Aug 16 ’24, Ross Andrew D sold 3233 shares at $588.58 each, generating $1.90 million.