Crossmark Global Holdings Inc. increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH – Free Report) by 14.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,808 shares of the industrial products company’s stock after purchasing an additional 3,075 shares during the period. Crossmark Global Holdings Inc.’s holdings in Parker-Hannifin were worth $24,265,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Optas LLC boosted its holdings in shares of Parker-Hannifin by 3.1% during the 1st quarter. Optas LLC now owns 370 shares of the industrial products company’s stock worth $331,000 after buying an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Parker-Hannifin by 1.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after acquiring an additional 11 shares in the last quarter. Inspire Advisors LLC increased its stake in shares of Parker-Hannifin by 1.2% in the 4th quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock valued at $807,000 after acquiring an additional 11 shares in the last quarter. RFG Advisory LLC lifted its position in shares of Parker-Hannifin by 0.3% during the 1st quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock valued at $3,348,000 after acquiring an additional 12 shares during the period. Finally, Allen Capital Group LLC boosted its stake in Parker-Hannifin by 4.8% during the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 12 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. Evercore set a $1,064.00 price target on shares of Parker-Hannifin in a report on Monday, May 11th. Citigroup increased their price objective on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. BNP Paribas Exane restated an “outperform” rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. dropped their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,091.38.
Parker-Hannifin Trading Down 1.2%
NYSE PH opened at $1,056.98 on Friday. The firm has a market capitalization of $133.27 billion, a P/E ratio of 37.10, a PEG ratio of 2.79 and a beta of 1.12. The business has a fifty day simple moving average of $967.88 and a 200 day simple moving average of $944.74. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44.
Parker-Hannifin (NYSE:PH – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, beating the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. During the same period last year, the business earned $7.69 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, analysts predict that Parker-Hannifin Corporation will post 34.88 EPS for the current fiscal year.
About Parker-Hannifin
Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.
Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.
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