BlackRock Inc. 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 filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,390,711 shares of the industrial products company's stock, valued at approximately $10,163,362,000. BlackRock Inc. owned 8.24% of Parker-Hannifin at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Texas Capital Bancshares Inc TX bought a new stake in Parker-Hannifin in the 3rd quarter valued at about $25,000. HFM Investment Advisors LLC raised its stake in Parker-Hannifin by 1,000.0% during the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock worth $29,000 after buying an additional 30 shares during the period. Lloyd Advisory Services LLC. bought a new position in Parker-Hannifin in the fourth quarter worth approximately $31,000. NFSG Corp boosted its holdings in Parker-Hannifin by 94.4% in the first quarter. NFSG Corp now owns 35 shares of the industrial products company's stock worth $31,000 after acquiring an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its stake in Parker-Hannifin by 80.0% in 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 period. Institutional investors own 82.44% of the company's stock.
Parker-Hannifin Stock Down 0.1%
PH stock opened at $1,055.30 on Tuesday. The stock has a 50-day simple moving average of $974.79 and a two-hundred day simple moving average of $946.50. 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 $133.06 billion, a PE 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.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (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 for the quarter, compared to analysts' expectations of $5.57 billion. During the same period in the prior year, the company posted $7.69 EPS. The business's revenue for the quarter 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. On average, equities analysts predict that Parker-Hannifin Corporation will post 34.88 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. UBS Group lifted their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. reduced their target price 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. Mizuho set a $1,050.00 target price on Parker-Hannifin in a report on Friday, May 1st. Finally, BNP Paribas Exane restated an "outperform" rating and set a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $1,100.00.
Get Our Latest Stock Analysis on Parker-Hannifin
Parker-Hannifin Profile
(
Free Report)
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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