6,165 Shares in Parker-Hannifin Corporation $PH Bought by Meeder Advisory Services Inc.

Key Points

• Meeder Advisory Services acquired 6,165 Parker-Hannifin shares in the second quarter, valued at approximately $6.03 million. Institutional investors collectively own 82.44% of the company.
• Analyst sentiment remains positive, with 17 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $1,100.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 EPS versus the $8.31 estimate and $5.75 billion in revenue, up 9.8% year over year.

Meeder Advisory Services Inc. purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,165 shares of the industrial products company's stock, valued at approximately $6,030,000.

Other large investors also recently modified their holdings of the company. Meeder Asset Management Inc. bought a new position in shares of Parker-Hannifin during the second quarter valued at about $50,000. Tiemann Investment Advisors LLC bought a new position in Parker-Hannifin during the second quarter worth about $421,000. Citizens Financial Group Inc. RI purchased a new position in Parker-Hannifin in the 2nd quarter valued at approximately $33,564,000. Texas Capital Bank Wealth Management Services Inc bought a new stake in shares of Parker-Hannifin during the 2nd quarter valued at $817,000. Finally, Tortoise Investment Management LLC purchased a new stake in shares of Parker-Hannifin in the second quarter worth about $615,000. Institutional investors own 82.44% of the company's stock.

Wall Street Analyst Weigh In

PH has been the subject of a number of recent analyst reports. Truist Financial boosted their price target on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Wall Street Zen upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. UBS Group upped their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. cut 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. Seventeen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,100.00.

Parker-Hannifin Trading Down 1.1%

NYSE:PH opened at $1,041.64 on Wednesday. The firm has a market capitalization of $131.34 billion, a P/E ratio of 36.56, 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. The company has a fifty day moving average of $977.50 and a 200 day moving average of $947.39. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. The firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, research analysts predict that Parker-Hannifin Corporation will post 34.88 earnings per share for the current 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.

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