Perigon Wealth Management LLC purchased a new position in Parker-Hannifin Corporation (NYSE:PH – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,492 shares of the industrial products company’s stock, valued at approximately $1,460,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in Parker-Hannifin during the fourth quarter worth approximately $1,756,230,000. Bank of New York Mellon Corp bought a new position in Parker-Hannifin during the 2nd quarter valued at $712,222,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Parker-Hannifin during the 2nd quarter valued at $305,628,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at $185,532,000. Finally, Focus Partners Wealth boosted its stake in Parker-Hannifin by 1,535.3% during the fourth quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company’s stock valued at $194,106,000 after buying an additional 207,495 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on PH shares. Sanford C. Bernstein boosted their price target on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a research report on Friday. Truist Financial lifted their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. KeyCorp boosted their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. UBS Group increased their target price on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Finally, Wells Fargo & Company reduced their target price on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.
Parker-Hannifin Stock Performance
Shares of PH opened at $1,055.30 on Tuesday. The company has a 50-day moving average of $974.79 and a two-hundred day moving average of $946.50. The stock has a market cap of $133.06 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94.
Parker-Hannifin (NYSE:PH – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the business posted $7.69 EPS. The company’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, equities research analysts expect that Parker-Hannifin Corporation will post 34.88 earnings per share for the current 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.
Read More
- Five stocks we like better than Parker-Hannifin
- Commodities Are Booming, But These 3 ETFs Tell Different Stories
- 3 Active ETFs Making Big Moves in August
- This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
- Birkenstock Beats the Skeptics—But Not on EPS
Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH – Free Report).
Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.
