M3 Wealth Management LLC Makes New Investment in Parker-Hannifin Corporation $PH

M3 Wealth Management LLC acquired a new stake in Parker-Hannifin Corporation (NYSE:PH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 793 shares of the industrial products company’s stock, valued at approximately $776,000.

Several other large investors also recently modified their holdings of PH. Norges Bank acquired a new position in shares of Parker-Hannifin in the fourth quarter worth about $1,756,230,000. Bank of New York Mellon Corp purchased a new position in Parker-Hannifin in the second quarter valued at about $712,222,000. Eurizon Capital SGR S.p.A. acquired a new stake in Parker-Hannifin during the 4th quarter valued at approximately $185,532,000. Focus Partners Wealth grew its stake in Parker-Hannifin by 1,535.3% during the 4th quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company’s stock valued at $194,106,000 after purchasing an additional 207,495 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Parker-Hannifin by 119.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company’s stock worth $305,032,000 after purchasing an additional 185,367 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PH has been the topic of a number of recent analyst reports. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Wells Fargo & Company decreased their price target on shares of Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a research report on Tuesday, May 26th. JPMorgan Chase & Co. dropped their price target on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. KeyCorp upped 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 report on Friday, August 7th. Finally, Sanford C. Bernstein increased their price objective on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a research note on Friday. Eighteen investment 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 target price of $1,100.00.

Parker-Hannifin Stock Down 0.3%

Shares of Parker-Hannifin stock opened at $1,055.34 on Friday. The business has a 50-day moving average price of $971.32 and a 200 day moving average price of $945.51. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The firm has a market cap of $133.07 billion, a P/E ratio of 37.04, a P/E/G ratio of 2.75 and a beta of 1.12. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH) last released its earnings results 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. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.Parker-Hannifin’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 34.88 earnings per share 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.