Liberty Wealth Management LLC Invests $7.11 Million in Parker-Hannifin Corporation (NYSE:PH)

Key Points

• Liberty Wealth Management LLC has invested approximately $7.11 million in Parker-Hannifin Corporation, acquiring 11,690 shares of the company's stock.
• Parker-Hannifin reported an earnings per share (EPS) of $6.94 for the last quarter, exceeding the consensus estimate by $0.22, but experienced a 2.2% decline in quarterly revenue compared to the previous year.
• Analysts have varying price targets for Parker-Hannifin's stock, with recommendations ranging from a "hold" to a "buy," and an average target price of $739.59.

Liberty Wealth Management LLC acquired a new position in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,690 shares of the industrial products company's stock, valued at approximately $7,106,000.

A number of other hedge funds have also recently made changes to their positions in PH. Aster Capital Management DIFC Ltd purchased a new position in Parker-Hannifin during the 4th quarter valued at $25,000. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin in the 4th quarter worth $32,000. Olde Wealth Management LLC bought a new position in Parker-Hannifin in the 1st quarter worth $35,000. Chilton Capital Management LLC raised its holdings 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 worth $39,000 after purchasing an additional 60 shares in the last quarter. Finally, Sierra Ocean LLC raised its holdings in Parker-Hannifin by 89.5% in the 1st quarter. Sierra Ocean LLC now owns 72 shares of the industrial products company's stock worth $44,000 after purchasing an additional 34 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

Shares of PH opened at $711.50 on Friday. The business has a 50-day simple moving average of $692.39 and a two-hundred day simple moving average of $654.74. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $745.34. The stock has a market cap of $90.92 billion, a price-to-earnings ratio of 27.40, a PEG ratio of 3.04 and a beta of 1.37.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $4.99 billion. During the same period in the prior year, the firm posted $6.51 EPS. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. On average, analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PH. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $709.00 to $717.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a report on Friday, May 16th. Barclays upped their price objective on shares of Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Finally, Citigroup reaffirmed a "buy" rating and issued a $831.00 target price (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $739.59.

About Parker-Hannifin

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.

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