NewEdge Wealth LLC Trims Stock Position in Parker-Hannifin Corporation $PH

NewEdge Wealth LLC decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 17.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 11,306 shares of the industrial products company’s stock after selling 2,404 shares during the period. NewEdge Wealth LLC’s holdings in Parker-Hannifin were worth $10,122,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PH. Vanguard Group Inc. boosted its holdings in shares of Parker-Hannifin by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after purchasing an additional 33,606 shares during the last quarter. Bank of America Corp DE raised its position in shares of Parker-Hannifin by 0.6% in the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after buying an additional 22,305 shares during the period. Capital World Investors raised its position in shares of Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock worth $2,286,038,000 after buying an additional 16,703 shares during the period. Morgan Stanley boosted its holdings in Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after acquiring an additional 22,367 shares during the last quarter. Finally, Norges Bank purchased a new stake in Parker-Hannifin during the fourth quarter valued at about $1,756,230,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PH has been the subject of several research analyst reports. Citigroup restated a “buy” rating on shares of Parker-Hannifin in a research note on Monday, June 8th. BMO Capital Markets began coverage on shares of Parker-Hannifin in a report on Friday, March 27th. They issued an “outperform” rating and a $1,090.00 price target on the stock. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $1,037.00 price target on shares of Parker-Hannifin in a research report on Thursday, July 16th. Stifel Nicolaus upped their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Friday, April 10th. Finally, Truist Financial increased their price target on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a “buy” rating in a research report on Thursday, July 2nd. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $1,027.38.

Parker-Hannifin Stock Up 1.5%

Shares of NYSE:PH opened at $985.29 on Friday. The company’s fifty day moving average is $919.76 and its two-hundred day moving average is $935.64. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. Parker-Hannifin Corporation has a 1-year low of $692.02 and a 1-year high of $1,034.96. The stock has a market capitalization of $124.23 billion, a price-to-earnings ratio of 36.34, a price-to-earnings-growth ratio of 2.59 and a beta of 1.11.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, beating the consensus estimate of $7.84 by $0.33. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities analysts anticipate that Parker-Hannifin Corporation will post 31.26 EPS for the current 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.