Oppenheimer Asset Management Inc. Takes $16.57 Million Position in Parker-Hannifin Corporation $PH

Oppenheimer Asset Management Inc. bought a new stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 16,938 shares of the industrial products company’s stock, valued at approximately $16,567,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Parker-Hannifin in the 4th quarter worth about $1,756,230,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $185,532,000. Focus Partners Wealth grew its position 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 purchasing an additional 207,495 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Parker-Hannifin by 119.3% in 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 buying an additional 185,367 shares in the last quarter. Finally, Amundi boosted its stake in shares of Parker-Hannifin by 36.4% during the 1st quarter. Amundi now owns 625,059 shares of the industrial products company’s stock valued at $559,578,000 after buying an additional 166,962 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $1,055.34 on Friday. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. The stock has a market capitalization of $133.07 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.76 and a beta of 1.12. The firm has a fifty day moving average of $971.32 and a two-hundred day moving average of $945.51.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $7.69 earnings per share. The firm’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. As a group, equities research analysts predict that Parker-Hannifin Corporation will post 34.88 EPS for the current year.

Wall Street Analysts Forecast Growth

PH has been the topic of several research reports. KeyCorp upped their target price on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. BNP Paribas Exane reiterated an “outperform” rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. UBS Group increased their price objective on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a “buy” rating in a report on Friday, August 7th. Finally, Citigroup increased their price target on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a “buy” rating in a report on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $1,100.00.

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.