Parker-Hannifin Corporation $PH Shares Bought by OFI Invest Asset Management

Key Points

• OFI Invest Asset Management more than doubled its Parker-Hannifin stake in the second quarter, adding 48,124 shares to hold 92,068 shares valued at approximately $90.1 million. Institutional investors collectively own 82.44% of the company.
• Analyst sentiment remains positive, with 18 analysts rating PH a Buy and four assigning a Hold rating. The stock has a consensus rating of Moderate Buy and an average price target of $1,091.38.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in earnings per share versus an $8.31 consensus estimate and $5.75 billion in revenue, up 9.8% year over year.

OFI Invest Asset Management raised its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 109.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 92,068 shares of the industrial products company's stock after buying an additional 48,124 shares during the quarter. Parker-Hannifin comprises 0.9% of OFI Invest Asset Management's holdings, making the stock its 27th largest position. OFI Invest Asset Management owned 0.07% of Parker-Hannifin worth $90,054,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PH. Texas Capital Bancshares Inc TX purchased a new stake in shares of Parker-Hannifin during the third quarter worth about $25,000. HFM Investment Advisors LLC raised its position in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 30 shares during the last quarter. Lloyd Advisory Services LLC. purchased a new position in shares of Parker-Hannifin in the 4th quarter valued at approximately $31,000. NFSG Corp boosted its stake in Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company's stock worth $31,000 after purchasing an additional 17 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in Parker-Hannifin by 80.0% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company's stock worth $32,000 after purchasing an additional 16 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

PH has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Wells Fargo & Company lowered their price objective on shares of Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating for the company in a research note on Tuesday, May 26th. Weiss Ratings reissued a "buy (b)" rating on shares of Parker-Hannifin in a report on Friday, July 17th. UBS Group upped their target price on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a research report on Friday, August 7th. Finally, BMO Capital Markets restated an "outperform" rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,091.38.

Parker-Hannifin Stock Performance

PH opened at $1,056.98 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. The firm has a 50 day moving average of $967.88 and a two-hundred day moving average of $944.74. The firm has a market capitalization of $133.27 billion, a PE ratio of 37.10, a P/E/G ratio of 2.79 and a beta of 1.12.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. The business had revenue of $5.75 billion for 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 business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, analysts anticipate that Parker-Hannifin Corporation will post 34.88 EPS for the current year.

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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