22,937 Shares in Parker-Hannifin Corporation $PH Acquired by Diamond Hill Capital Management LLC Investment Advisor

Key Points

• Diamond Hill Capital Management acquired 22,937 Parker-Hannifin shares in the second quarter, valued at approximately $22.4 million. Institutional investors collectively own 82.44% of the company.
• Parker-Hannifin reported quarterly earnings of $9.27 per share, exceeding estimates by $0.96, while revenue reached $5.75 billion, up 9.8% year over year.
• Analyst sentiment remains positive, with 18 Buy ratings and four Holds. The stock has a “Moderate Buy” consensus rating and a $1,100 average price target.

Diamond Hill Capital Management LLC Investment Advisor bought a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,937 shares of the industrial products company's stock, valued at approximately $22,435,000.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Parker-Hannifin by 0.3% during 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 in the last quarter. Bank of America Corp DE boosted its holdings in Parker-Hannifin by 0.6% in the fourth 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 purchasing an additional 22,305 shares in the last quarter. Capital World Investors increased its position in Parker-Hannifin by 0.6% during the fourth 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 last quarter. Morgan Stanley increased its position in Parker-Hannifin by 1.1% during the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company's stock worth $1,874,862,000 after buying an additional 22,367 shares during the last quarter. Finally, Norges Bank bought a new position in Parker-Hannifin during the fourth quarter valued at about $1,756,230,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Down 0.0%

Shares of PH opened at $1,055.34 on Monday. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $133.07 billion, a price-to-earnings ratio of 37.04, a P/E/G ratio of 2.75 and a beta of 1.12. The stock's 50-day moving average price is $971.32 and its 200 day moving average price is $945.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to analysts' expectations 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 period last year, the business earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, research analysts predict that Parker-Hannifin Corporation will post 34.88 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PH. Citigroup upped their price target on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Wall Street Zen raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Evercore set a $1,064.00 target price on Parker-Hannifin in a report on Monday, May 11th. Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a research report on Friday, August 7th. Finally, Sanford C. Bernstein increased their price target on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an "outperform" rating in a report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,100.00.

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.

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