Plato Investment Management Ltd Invests $3.48 Million in Parker-Hannifin Corporation $PH

Key Points

• Plato Investment Management acquired 3,575 Parker-Hannifin shares worth approximately $3.48 million during the second quarter.
• Institutional investors own 82.44% of Parker-Hannifin, with major holders including Vanguard, Bank of America, Capital World Investors, Morgan Stanley and Norges Bank.
• Parker-Hannifin reported quarterly EPS of $9.27, beating estimates by $0.96, while revenue rose 9.8% year over year to $5.75 billion. Analysts maintain a consensus “Moderate Buy” rating with a $1,100 price target.

Plato Investment Management Ltd acquired a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,575 shares of the industrial products company's stock, valued at approximately $3,476,000.

Several other hedge funds have also recently added to or reduced their stakes in PH. Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company's stock valued at $9,793,843,000 after acquiring an additional 33,606 shares during the last quarter. Bank of America Corp DE boosted its stake in Parker-Hannifin by 0.6% during the 4th quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company's stock worth $3,451,584,000 after acquiring an additional 22,305 shares during the last quarter. Capital World Investors grew its holdings in Parker-Hannifin by 0.6% during the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company's stock valued at $2,286,038,000 after purchasing an additional 16,703 shares during the period. Morgan Stanley grew its holdings in shares of Parker-Hannifin by 1.1% in the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company's stock valued at $1,874,862,000 after buying an additional 22,367 shares during the period. Finally, Norges Bank bought a new stake in shares of Parker-Hannifin in the fourth quarter worth about $1,756,230,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PH shares. Mizuho set a $1,050.00 price objective on shares of Parker-Hannifin in a report on Friday, May 1st. KeyCorp raised their target price on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Stifel Nicolaus set a $1,075.00 price objective on Parker-Hannifin in a research report on Friday, August 7th. Finally, Wells Fargo & Company cut 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 report on Tuesday, May 26th. Eighteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,100.00.

Parker-Hannifin Stock Down 0.0%

Shares of NYSE:PH opened at $1,055.34 on Monday. The business has a fifty day simple moving average of $971.32 and a 200 day simple moving average of $945.59. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. The firm has a market cap of $133.07 billion, a P/E ratio of 37.04, a P/E/G ratio of 2.75 and a beta of 1.12. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.

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