Danske Bank A S Sells 15,054 Shares of Parker-Hannifin Corporation $PH

Key Points

• Danske Bank A/S reduced its Parker-Hannifin stake by 13.8% in the second quarter, selling 15,054 shares and retaining 93,944 shares valued at approximately $91.9 million.
• Institutional ownership remains substantial at 82.44%, with several major investors—including BlackRock, Norges Bank and Deutsche Bank—reporting new positions.
• Analyst sentiment is positive, with 17 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $1,100. Parker-Hannifin also exceeded quarterly earnings and revenue estimates, reporting $9.27 EPS and $5.75 billion in revenue.

Danske Bank A S lowered its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 13.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,944 shares of the industrial products company's stock after selling 15,054 shares during the period. Danske Bank A S owned approximately 0.07% of Parker-Hannifin worth $91,889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PH. BlackRock Inc. bought a new position in shares of Parker-Hannifin in the second quarter valued at approximately $10,163,362,000. Norges Bank bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $1,756,230,000. Deutsche Bank AG purchased a new stake in Parker-Hannifin in the 2nd quarter worth approximately $987,587,000. Bank of New York Mellon Corp purchased a new stake in Parker-Hannifin in the 2nd quarter worth approximately $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in Parker-Hannifin in the 2nd quarter valued at $305,628,000. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

PH has been the topic of several research analyst reports. KeyCorp upped their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Sanford C. Bernstein lifted their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an "outperform" rating in a research note on Friday. JPMorgan Chase & Co. reduced their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a research report on Thursday, May 7th. UBS Group upped their target price on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Evercore set a $1,064.00 price target on Parker-Hannifin in a research report on Monday, May 11th. Seventeen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus price target of $1,100.00.

Parker-Hannifin Stock Performance

NYSE:PH opened at $1,041.64 on Wednesday. The company has a market capitalization of $131.34 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 2.75 and a beta of 1.12. The business has a 50 day moving average of $977.50 and a 200 day moving average of $947.39. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year 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 firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same period last year, the firm posted $7.69 earnings per share. The business's 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. On average, sell-side analysts predict that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source