MidFirst Bank Takes $1.75 Million Position in Parker-Hannifin Corporation $PH

Key Points

• MidFirst Bank acquired a new $1.75 million position in Parker-Hannifin during the second quarter, buying 1,792 shares. Institutional investors and hedge funds collectively own 82.44% of the company.
• Analysts maintain a positive outlook, with 18 Buy ratings and four Holds, resulting in a consensus “Moderate Buy” rating and an average price target of $1,100. Recent targets range from $950 to $1,358.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in earnings per share and $5.75 billion in revenue, with revenue up 9.8% year over year. Shares opened at $1,055.30, near the company’s 12-month high of $1,099.94.

MidFirst Bank purchased a new stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,792 shares of the industrial products company's stock, valued at approximately $1,753,000.

A number of other institutional investors have also added to or reduced their stakes in PH. Optas LLC lifted its stake in Parker-Hannifin by 3.1% in the 1st quarter. Optas LLC now owns 370 shares of the industrial products company's stock valued at $331,000 after purchasing an additional 11 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Parker-Hannifin by 1.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company's stock worth $540,000 after buying an additional 11 shares during the last quarter. Inspire Advisors LLC grew its stake in shares of Parker-Hannifin by 1.2% during the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company's stock worth $807,000 after buying an additional 11 shares during the last quarter. RFG Advisory LLC increased its holdings in shares of Parker-Hannifin by 0.3% during the first quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company's stock worth $3,348,000 after buying an additional 12 shares in the last quarter. Finally, Allen Capital Group LLC increased its holdings in shares of Parker-Hannifin by 4.8% during the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company's stock worth $236,000 after buying an additional 12 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PH has been the topic of several recent research reports. Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a report on Friday, July 17th. JPMorgan Chase & Co. lowered their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating for the company in a report on Thursday, May 7th. Citigroup boosted their price target on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Wells Fargo & Company lowered their price objective on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a research note on Tuesday, May 26th. Finally, Truist Financial raised their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a "buy" rating in a report on Friday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,100.00.

Parker-Hannifin Price Performance

PH stock opened at $1,055.30 on Tuesday. 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 firm has a market cap of $133.06 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. The company's fifty day simple moving average is $974.79 and its 200 day simple moving average is $946.50. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94.

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

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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