NewEdge Wealth LLC Grows Position in Parker-Hannifin Corporation $PH

NewEdge Wealth LLC lifted its position in Parker-Hannifin Corporation (NYSE:PH) by 6.6% during the 2nd quarter, Holdings Channel reports. The firm owned 12,056 shares of the industrial products company’s stock after acquiring an additional 750 shares during the period. NewEdge Wealth LLC’s holdings in Parker-Hannifin were worth $11,793,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin during the 3rd quarter valued at $25,000. HFM Investment Advisors LLC grew its holdings in Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. bought a new stake in Parker-Hannifin in the 4th quarter worth $31,000. NFSG Corp increased its position in shares of Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 17 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 16 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PH. Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. JPMorgan Chase & Co. reduced their price target 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. BMO Capital Markets reaffirmed an “outperform” rating and set a $1,214.00 price target on shares of Parker-Hannifin in a research report on Friday, August 7th. Truist Financial increased their price objective on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Susquehanna boosted their target price on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a research note on Friday, August 7th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin Trading Down 1.9%

Shares of PH opened at $1,022.30 on Thursday. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year high of $1,099.94. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $980.41 and its 200-day moving average price is $947.90. The firm has a market capitalization of $128.90 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 2.71 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (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 company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the prior year, the firm earned $7.69 earnings per share. Parker-Hannifin’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. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 34.93 EPS 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.