NewEdge Wealth LLC Lowers Stock Position in Parker-Hannifin Corporation $PH

Key Points

• NewEdge Wealth LLC reduced its stake in Parker-Hannifin by 17.5% in the first quarter, selling 2,404 shares and ending with 11,306 shares valued at about $10.1 million.
• Wall Street sentiment remains constructive overall, with 18 analysts rating the stock a Buy and four a Hold; the consensus rating is Moderate Buy with a $1,027.38 price target, even though a few firms recently trimmed targets or downgraded the shares.
• Parker-Hannifin posted solid quarterly results, beating EPS and revenue estimates for the April 30 report and raising FY 2026 guidance to 31.2 EPS, while the stock was trading up 1.5% at $985.29.

NewEdge Wealth LLC trimmed its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 17.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,306 shares of the industrial products company's stock after selling 2,404 shares during the period. NewEdge Wealth LLC's holdings in Parker-Hannifin were worth $10,122,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Parker-Hannifin in the fourth quarter worth $1,756,230,000. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth $185,532,000. Focus Partners Wealth grew its stake in shares of Parker-Hannifin by 1,535.3% during the 4th quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company's stock worth $194,106,000 after purchasing an additional 207,495 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Parker-Hannifin by 119.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company's stock worth $305,032,000 after purchasing an additional 185,367 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Parker-Hannifin by 152.2% in the 1st quarter. Jennison Associates LLC now owns 261,912 shares of the industrial products company's stock valued at $234,474,000 after purchasing an additional 158,081 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on PH. Wall Street Zen cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. 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 for the company in a report on Thursday, May 7th. Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Sanford C. Bernstein restated an "outperform" rating and issued a $1,037.00 price target on shares of Parker-Hannifin in a report on Thursday, July 16th. Finally, Wells Fargo & Company dropped 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. Eighteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus price target of $1,027.38.

Parker-Hannifin Trading Up 1.5%

Parker-Hannifin stock opened at $985.29 on Friday. The stock has a market cap of $124.23 billion, a PE ratio of 36.34, a P/E/G ratio of 2.59 and a beta of 1.11. The stock has a 50-day moving average price of $919.76 and a 200 day moving average price of $935.64. Parker-Hannifin Corporation has a 52 week low of $692.02 and a 52 week high of $1,034.96. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46.

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 (EPS) for the quarter, beating analysts' consensus estimates of $7.84 by $0.33. The company had revenue of $5.49 billion for 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 quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.94 EPS. Parker-Hannifin has set its FY 2026 guidance at 31.200-31.200 EPS. Equities research analysts predict that Parker-Hannifin Corporation will post 31.26 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.

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