Carmignac Gestion Makes New $31.72 Million Investment in Parker-Hannifin Corporation $PH

Carmignac Gestion purchased a new stake in Parker-Hannifin Corporation (NYSE:PH) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 35,433 shares of the industrial products company’s stock, valued at approximately $31,721,000.

Several other large investors have also modified their holdings of PH. Avion Wealth raised its holdings in Parker-Hannifin by 35.5% in the 4th quarter. Avion Wealth now owns 42 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 11 shares during the period. Optas LLC boosted its holdings in Parker-Hannifin by 3.1% during the first quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 11 shares during the period. Moneta Group Investment Advisors LLC boosted its holdings in Parker-Hannifin by 1.8% during the fourth 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 during the period. Inspire Advisors LLC grew its position in shares of Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 11 shares during the last quarter. Finally, Altfest L J & Co. Inc. increased its stake in shares of Parker-Hannifin by 4.4% in the fourth quarter. Altfest L J & Co. Inc. now owns 286 shares of the industrial products company’s stock worth $251,000 after purchasing an additional 12 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $978.14 on Monday. The firm has a market capitalization of $123.33 billion, a PE ratio of 36.08, a PEG ratio of 2.61 and a beta of 1.12. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a 1-year low of $692.02 and a 1-year high of $1,034.96. The business’s 50 day moving average is $933.72 and its 200-day moving average is $938.15.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate of $7.84 by $0.33. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.Parker-Hannifin’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the business earned $6.94 earnings per share. Sell-side analysts predict that Parker-Hannifin Corporation will post 31.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PH shares. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research report on Monday, May 11th. JPMorgan Chase & Co. lowered their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a report on Thursday, May 7th. Truist Financial upped their price target on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a research note on Friday, May 1st. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $1,037.00 target price on shares of Parker-Hannifin in a research note on Thursday, July 16th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $1,027.38.

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.