BTC Capital Management Inc. Buys 7,814 Shares of Parker-Hannifin Corporation $PH

Key Points

• BTC Capital Management increased its Parker-Hannifin stake by 96% in the second quarter, purchasing 7,814 additional shares and bringing its holdings to 15,950 shares valued at approximately $15.6 million.
• Analysts remain broadly positive on PH, with 18 Buy ratings and four Holds; the stock has a “Moderate Buy” consensus and an average price target of $1,091.38.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in EPS and $5.75 billion in revenue, with year-over-year revenue growth of 9.8%.

BTC Capital Management Inc. boosted its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 96.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,950 shares of the industrial products company's stock after purchasing an additional 7,814 shares during the quarter. Parker-Hannifin comprises approximately 0.9% of BTC Capital Management Inc.'s portfolio, making the stock its 25th biggest holding. BTC Capital Management Inc.'s holdings in Parker-Hannifin were worth $15,603,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PH. Fideuram Asset Management Ireland dac purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at about $1,253,000. Truist Financial Corp boosted its stake in Parker-Hannifin by 2.7% in the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company's stock worth $153,687,000 after buying an additional 4,673 shares in the last quarter. Shepherd Street Advisors LLC purchased a new stake in Parker-Hannifin in the fourth quarter worth approximately $1,736,000. Jefferies Financial Group Inc. bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $11,434,000. Finally, Horizon Investments LLC grew its position in Parker-Hannifin by 78.8% during the fourth quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company's stock valued at $7,760,000 after acquiring an additional 3,892 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PH has been the subject of a number of recent research reports. Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a report on Friday, July 17th. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,214.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $1,037.00 target price on shares of Parker-Hannifin in a research report on Thursday, July 16th. BNP Paribas Exane reissued an "outperform" rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,091.38.

Parker-Hannifin Stock Performance

NYSE:PH opened at $1,056.98 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The firm has a market cap of $133.27 billion, a PE ratio of 37.10, a price-to-earnings-growth ratio of 2.79 and a beta of 1.12. The business has a 50 day moving average price of $967.88 and a 200-day moving average price of $944.74.

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. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the firm earned $7.69 earnings per share. The firm'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. Equities research analysts predict that Parker-Hannifin Corporation will post 34.88 earnings per share for the current 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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