Abbot Financial Management Inc. Invests $2.73 Million in Parker-Hannifin Corporation $PH

Key Points

• Abbot Financial Management acquired 2,794 Parker-Hannifin shares worth approximately $2.73 million, making the industrial company its 26th-largest holding and about 0.9% of its portfolio.
• Parker-Hannifin reported stronger-than-expected quarterly results, with EPS of $9.27 versus an $8.31 estimate and revenue of $5.75 billion, up 9.8% year over year.
• Analyst sentiment remains positive: 18 analysts rate the stock a Buy and four rate it Hold, producing a “Moderate Buy” consensus and an average price target of $1,100.

Abbot Financial Management Inc. acquired a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,794 shares of the industrial products company's stock, valued at approximately $2,733,000. Parker-Hannifin accounts for about 0.9% of Abbot Financial Management Inc.'s holdings, making the stock its 26th biggest position.

Several other large investors have also bought and sold shares of the company. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin in the third quarter worth about $25,000. HFM Investment Advisors LLC lifted 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 valued at $29,000 after acquiring an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. bought a new position in shares of Parker-Hannifin during the 4th quarter valued at about $31,000. NFSG Corp grew its stake in shares of Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company's stock worth $31,000 after purchasing an additional 17 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company's stock worth $32,000 after purchasing an additional 16 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of PH opened at $1,055.34 on Monday. The business's 50-day moving average is $971.32 and its 200-day moving average is $945.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The company 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. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly 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. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion during the quarter, compared to analysts' expectations of $5.57 billion. During the same period last year, the company posted $7.69 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities research analysts expect that Parker-Hannifin Corporation will post 34.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BNP Paribas Exane reissued an "outperform" rating and set a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Citigroup lifted their price target on shares of Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Mizuho set a $1,050.00 price target on Parker-Hannifin in a report on Friday, May 1st. Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Finally, Wells Fargo & Company reduced their price objective on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a research note on Tuesday, May 26th. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and an average price target 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.

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