Gateway Wealth Partners LLC Takes Position in Parker-Hannifin Corporation $PH

Key Points

• Gateway Wealth Partners purchased 1,442 Parker-Hannifin shares valued at approximately $1.29 million, while institutional investors collectively own 82.44% of the company.
• Parker-Hannifin exceeded quarterly expectations, reporting $8.17 in earnings per share versus the $7.84 consensus estimate and $5.49 billion in revenue, up 10.6% year over year.
• Analysts maintain a Moderate Buy consensus, with 18 Buy ratings and four Holds and an average price target of $1,027.38.

Gateway Wealth Partners LLC purchased a new stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 1,442 shares of the industrial products company's stock, valued at approximately $1,291,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PH. Norges Bank purchased a new position in Parker-Hannifin in the 4th quarter valued at about $1,756,230,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $185,532,000. Focus Partners Wealth increased its position in shares of Parker-Hannifin by 1,535.3% during the fourth quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company's stock worth $194,106,000 after acquiring an additional 207,495 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Parker-Hannifin by 119.3% during the first quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company's stock worth $305,032,000 after acquiring an additional 185,367 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Parker-Hannifin by 152.2% in the first quarter. Jennison Associates LLC now owns 261,912 shares of the industrial products company's stock worth $234,474,000 after acquiring an additional 158,081 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Shares of PH opened at $990.91 on Wednesday. The stock has a market capitalization of $124.94 billion, a PE ratio of 36.55, a price-to-earnings-growth ratio of 2.64 and a beta of 1.11. The business's fifty day moving average price is $927.63 and its 200 day moving average price is $937.19. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. Parker-Hannifin Corporation has a 12-month low of $692.02 and a 12-month high of $1,034.96.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, beating the consensus estimate of $7.84 by $0.33. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.40 billion. Parker-Hannifin had a net margin of 16.58% and a return on equity of 27.97%. The firm's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.94 earnings per share. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities research analysts forecast that Parker-Hannifin Corporation will post 31.26 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Wall Street Zen downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Truist Financial lifted their price objective on Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a "buy" rating in a report on Thursday, July 2nd. Stifel Nicolaus upped their target price on Parker-Hannifin from $965.00 to $1,000.00 and gave the company a "hold" rating in a research report on Friday, April 10th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Finally, 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 note on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,027.38.

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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