GRIMES & Co WEALTH MANAGEMENT LLC Has $499,000 Stake in Parker-Hannifin Corporation $PH

Key Points

• GRIMES & Co Wealth Management cut its Parker-Hannifin position by 69.5% in the second quarter, selling 1,161 shares and retaining 510 shares valued at approximately $499,000.
• Parker-Hannifin reported quarterly EPS of $9.27, surpassing estimates of $8.31, while revenue rose 9.8% year over year to $5.75 billion.
• Analyst sentiment remains positive, with 18 Buy ratings and four Holds; the consensus rating is Moderate Buy with an average price target of $1,100, while several firms raised targets above $1,200.

GRIMES & Co WEALTH MANAGEMENT LLC decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 69.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 510 shares of the industrial products company's stock after selling 1,161 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Parker-Hannifin were worth $499,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $25,000. HFM Investment Advisors LLC boosted its holdings in shares of Parker-Hannifin by 1,000.0% in the fourth quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock valued at $29,000 after buying an additional 30 shares during the period. Lloyd Advisory Services LLC. bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $31,000. NFSG Corp increased its position in shares of Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company's stock worth $31,000 after acquiring an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of Parker-Hannifin by 80.0% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company's stock worth $32,000 after acquiring an additional 16 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $1,055.34 on Friday. The stock has a market cap of $133.07 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.76 and a beta of 1.12. 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's 50-day simple moving average is $971.32 and its 200 day simple moving average is $945.51.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the company posted $7.69 earnings per share. Parker-Hannifin'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. As a group, research analysts anticipate that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on PH. UBS Group boosted their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a research report on Friday, August 7th. BMO Capital Markets restated an "outperform" rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Truist Financial increased their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Mizuho set a $1,050.00 target price on Parker-Hannifin in a research note on Friday, May 1st. Finally, Evercore set a $1,064.00 price target on Parker-Hannifin in a report on Monday, May 11th. Eighteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,100.00.

About Parker-Hannifin

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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