Flputnam Investment Management Co. Makes New $15.73 Million Investment in Parker-Hannifin Corporation $PH

Key Points

• Flputnam Investment Management acquired 16,085 Parker-Hannifin shares worth approximately $15.73 million during the second quarter. Institutional investors collectively own 82.44% of the company.
• Analysts remain broadly bullish, with 18 Buy ratings and four Holds; the stock has a consensus “Moderate Buy” rating and a $1,100 price target, while several firms recently raised their targets.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in EPS versus an $8.31 consensus and $5.75 billion in revenue, up 9.8% year over year.

Flputnam Investment Management Co. bought a new position in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 16,085 shares of the industrial products company's stock, valued at approximately $15,733,000.

Several other institutional investors also recently modified their holdings of the business. Texas Capital Bancshares Inc TX purchased a new position in Parker-Hannifin in the third quarter worth $25,000. HFM Investment Advisors LLC increased its position in shares of 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 valued at $29,000 after purchasing an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $31,000. NFSG Corp raised its stake in shares of Parker-Hannifin by 94.4% during 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 period. Finally, Mowery & Schoenfeld Wealth Management LLC raised its stake in shares of Parker-Hannifin by 80.0% during 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 period. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. 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 report on Friday, August 7th. Sanford C. Bernstein lifted their price objective on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an "outperform" rating in a research report on Friday. JPMorgan Chase & Co. dropped their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating on the stock in a research note on Thursday, May 7th. Truist Financial increased their target price on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, Susquehanna raised their price target on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a "positive" rating in a research note on Friday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,100.00.

Parker-Hannifin Stock Down 0.0%

Shares of NYSE PH opened at $1,055.34 on Monday. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94. The business has a 50-day simple moving average of $971.32 and a two-hundred day simple moving average of $945.59. 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 company has a market cap of $133.07 billion, a P/E ratio of 37.04, a P/E/G ratio of 2.75 and a beta of 1.12.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. The company had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. Parker-Hannifin's revenue was up 9.8% compared to the same quarter last year. During the same period last year, the business earned $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts anticipate that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal 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.

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