OneDigital Investment Advisors LLC Buys New Position in Parker-Hannifin Corporation $PH

Key Points

• OneDigital Investment Advisors acquired 1,166 Parker-Hannifin shares worth approximately $1.14 million in the second quarter. Institutional investors and hedge funds collectively own 82.44% of the company.
• Parker-Hannifin reported quarterly EPS of $9.27, beating 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, producing a “Moderate Buy” consensus and an average price target of $1,100.

OneDigital Investment Advisors LLC purchased a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,166 shares of the industrial products company's stock, valued at approximately $1,140,000.

Several other institutional investors have also added to or reduced their stakes in PH. Plato Investment Management Ltd purchased a new position in shares of Parker-Hannifin in the 2nd quarter valued at approximately $3,476,000. Bell Investment Advisors Inc purchased a new stake in Parker-Hannifin during the 2nd quarter worth approximately $35,000. AMG National Trust Bank acquired a new position in Parker-Hannifin during the 2nd quarter valued at approximately $206,000. Roman Butler Fullerton & Co. purchased a new position in shares of Parker-Hannifin in the second quarter worth $2,456,000. Finally, Simplicity Wealth LLC purchased a new position in shares of Parker-Hannifin in the second quarter worth $938,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Down 0.1%

NYSE:PH opened at $1,055.30 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The company's fifty day moving average price is $974.79 and its 200-day moving average price is $946.50. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year high of $1,099.94. The firm has a market capitalization of $133.06 billion, a P/E ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. The company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities research analysts anticipate that Parker-Hannifin Corporation will post 34.88 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Truist Financial boosted 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. Wall Street Zen upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Mizuho set a $1,050.00 price target on Parker-Hannifin in a research report on Friday, May 1st. JPMorgan Chase & Co. dropped their price target on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating on the stock in a research note on Thursday, May 7th. Finally, Citigroup increased their price objective on Parker-Hannifin from $1,141.00 to $1,232.00 and gave the company a "buy" rating in a report on Friday, August 7th. Eighteen 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 stock currently has an average rating of "Moderate Buy" and an average target price of $1,100.00.

Parker-Hannifin Company 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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