SCS Capital Management LLC Makes New $5.69 Million Investment in Parker-Hannifin Corporation $PH

Key Points

• SCS Capital Management acquired 5,817 Parker-Hannifin shares worth approximately $5.69 million in the second quarter. Institutional investors collectively own 82.44% of the company.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in EPS versus the $8.31 consensus and $5.75 billion in revenue, up 9.8% year over year.
• Analysts remain broadly positive, with 18 Buy ratings and four Holds; the stock has a “Moderate Buy” consensus and an average price target of $1,100.

SCS Capital Management LLC acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 5,817 shares of the industrial products company's stock, valued at approximately $5,690,000.

A number of other large investors also recently modified their holdings of PH. Vanguard Group Inc. grew its position in shares of Parker-Hannifin by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company's stock worth $9,793,843,000 after purchasing an additional 33,606 shares in the last quarter. Bank of America Corp DE raised 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 valued at $3,451,584,000 after purchasing an additional 22,305 shares during the period. Capital World Investors lifted its holdings in Parker-Hannifin by 0.6% in the 4th quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company's stock worth $2,286,038,000 after purchasing an additional 16,703 shares in the last quarter. Morgan Stanley boosted its stake in Parker-Hannifin by 1.1% in the 4th quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company's stock worth $1,874,862,000 after purchasing an additional 22,367 shares during the period. Finally, Norges Bank bought a new position in Parker-Hannifin in the 4th quarter worth approximately $1,756,230,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Trading Down 0.0%

PH stock opened at $1,055.34 on Monday. The firm has a fifty day moving average price of $971.32 and a 200 day moving average price of $945.59. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94. The firm has a market cap of $133.07 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 2.75 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 released its quarterly 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. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the prior year, the firm earned $7.69 earnings per share. 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. Sell-side analysts anticipate that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. BMO Capital Markets reaffirmed an "outperform" rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. Weiss Ratings restated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a research note on Friday, May 1st. Finally, Susquehanna lifted their price target on shares of Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a "positive" rating in a report on Friday, August 7th. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and a consensus 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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