Federated Hermes Inc. Increases Stake in Parker-Hannifin Corporation (NYSE:PH)

Federated Hermes Inc. lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,892 shares of the industrial products company's stock after purchasing an additional 893 shares during the period. Federated Hermes Inc.'s holdings in Parker-Hannifin were worth $33,366,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PH. Aster Capital Management DIFC Ltd purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $25,000. Mpwm Advisory Solutions LLC purchased a new position in Parker-Hannifin in the 4th quarter valued at approximately $32,000. Olde Wealth Management LLC purchased a new position in Parker-Hannifin in the 1st quarter valued at approximately $35,000. Chilton Capital Management LLC grew its stake in Parker-Hannifin by 1,500.0% in the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after buying an additional 60 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in Parker-Hannifin by 214.3% in the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock valued at $42,000 after buying an additional 45 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of NYSE PH traded down $20.40 during mid-day trading on Friday, reaching $711.50. 903,021 shares of the company were exchanged, compared to its average volume of 478,697. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $745.34. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $90.92 billion, a PE ratio of 27.40, a PEG ratio of 3.12 and a beta of 1.37. The company's 50 day moving average price is $691.28 and its 200 day moving average price is $654.30.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period in the previous year, the firm posted $6.51 EPS. The firm's revenue was down 2.2% compared to the same quarter last year. Sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PH. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $709.00 to $717.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Argus set a $680.00 price objective on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research report on Friday, May 16th. Finally, Morgan Stanley boosted their price target on shares of Parker-Hannifin from $700.00 to $725.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Parker-Hannifin has an average rating of "Moderate Buy" and an average target price of $739.59.

Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.