Parker-Hannifin Corporation $PH Shares Bought by Allworth Financial LP

Allworth Financial LP grew its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 11.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,111 shares of the industrial products company's stock after purchasing an additional 1,598 shares during the period. Allworth Financial LP's holdings in Parker-Hannifin were worth $14,780,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after acquiring an additional 101 shares during the period. Bison Wealth LLC increased its position in shares of Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company's stock valued at $476,000 after buying an additional 32 shares in the last quarter. Empowered Funds LLC increased its position in shares of Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company's stock valued at $1,759,000 after buying an additional 15 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Parker-Hannifin by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company's stock worth $484,000 after buying an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC raised its stake in shares of Parker-Hannifin by 3.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company's stock worth $300,000 after buying an additional 15 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of PH opened at $1,001.54 on Friday. Parker-Hannifin Corporation has a 1 year low of $715.37 and a 1 year high of $1,099.94. The company's 50 day simple moving average is $982.40 and its 200 day simple moving average is $948.37. The company has a market capitalization of $126.28 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 2.66 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 (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, beating 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 company had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. During the same period in the previous year, the firm posted $7.69 EPS. Parker-Hannifin's revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, sell-side analysts predict that Parker-Hannifin Corporation will post 34.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Truist Financial increased 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 research note on Friday, August 7th. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a research note on Monday, May 11th. Sanford C. Bernstein lifted their price objective on Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an "outperform" rating in a research report on Friday, August 14th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Finally, KeyCorp increased their target price on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Seventeen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average price target 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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