9,979 Shares in Parker-Hannifin Corporation $PH Bought by HBK Sorce Advisory LLC

Key Points

• HBK Sorce Advisory LLC acquired 9,979 Parker-Hannifin shares worth approximately $9.95 million, making the stock its 28th-largest holding. Institutional investors collectively own 82.44% of PH.
• Analysts remain broadly optimistic: 18 rate PH a Buy and four rate it a Hold, producing a “Moderate Buy” consensus and an average price target of $1,100.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 EPS versus an $8.31 estimate and $5.75 billion in revenue, up 9.8% year over year.

HBK Sorce Advisory LLC acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,979 shares of the industrial products company's stock, valued at approximately $9,948,000. Parker-Hannifin makes up approximately 0.2% of HBK Sorce Advisory LLC's portfolio, making the stock its 28th biggest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of PH. Vanguard Group Inc. lifted its stake in shares of Parker-Hannifin by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company's stock worth $9,793,843,000 after buying an additional 33,606 shares during the period. Bank of America Corp DE grew its holdings in shares of Parker-Hannifin by 0.6% during the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company's stock valued at $3,451,584,000 after buying an additional 22,305 shares during the last quarter. Capital World Investors increased its position in shares of Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company's stock valued at $2,286,038,000 after acquiring an additional 16,703 shares during the period. Morgan Stanley increased its position in shares of Parker-Hannifin by 1.1% in the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company's stock valued at $1,874,862,000 after acquiring an additional 22,367 shares during the period. Finally, Norges Bank purchased a new position in Parker-Hannifin in the 4th quarter worth $1,756,230,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent research reports. Wells Fargo & Company dropped their target price on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 26th. Sanford C. Bernstein raised their price target on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an "outperform" rating in a research report on Friday. Truist Financial lifted their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a "buy" rating in a research note on Friday, August 7th. BNP Paribas Exane reiterated an "outperform" rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a report on Friday, May 1st. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $1,100.00.

Parker-Hannifin Stock Performance

NYSE PH opened at $1,055.34 on Monday. The stock has a market capitalization of $133.07 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. Parker-Hannifin Corporation has a twelve month low of $715.37 and a twelve month 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 stock has a 50-day moving average of $971.32 and a 200 day moving average of $945.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued 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 return on equity of 28.48% and a net margin of 16.97%.The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the business posted $7.69 earnings per share. Parker-Hannifin's revenue for the quarter 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 34.88 EPS for the current fiscal year.

Parker-Hannifin 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.

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