Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Parker-Hannifin Corporation (NYSE:PH – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 312,525 shares of the industrial products company’s stock, valued at approximately $305,628,000. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.25% of Parker-Hannifin as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Texas Capital Bancshares Inc TX purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $25,000. HFM Investment Advisors LLC boosted its stake in shares of Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after buying an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. acquired a new stake in Parker-Hannifin during the fourth quarter worth about $31,000. NFSG Corp grew its holdings in Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after acquiring an additional 17 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its position in Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 16 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on PH shares. Truist Financial boosted their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a report on Friday, August 7th. Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a report on Friday, May 1st. Wells Fargo & Company decreased their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research note on Tuesday, May 26th. BNP Paribas Exane reissued an “outperform” rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. Finally, KeyCorp raised their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,100.00.
Parker-Hannifin Stock Down 0.1%
Shares of PH opened at $1,055.30 on Tuesday. The firm has a market cap of $133.06 billion, a P/E ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. Parker-Hannifin Corporation has a 12 month low of $715.37 and a 12 month high of $1,099.94. The stock’s 50 day moving average is $974.79 and its two-hundred day moving average is $946.50. 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 announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the company posted $7.69 EPS. The business’s quarterly 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. Analysts predict that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.
Parker-Hannifin Company Profile
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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