Trust Co. of Vermont Invests $1.73 Million in Parker-Hannifin Corporation $PH

Trust Co. of Vermont purchased a new position 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 1,768 shares of the industrial products company's stock, valued at approximately $1,729,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PH. Fideuram Asset Management Ireland dac acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at about $1,253,000. Truist Financial Corp raised its stake in Parker-Hannifin by 2.7% during the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company's stock worth $153,687,000 after acquiring an additional 4,673 shares during the period. Shepherd Street Advisors LLC bought a new position in Parker-Hannifin in the fourth quarter worth about $1,736,000. Jefferies Financial Group Inc. acquired a new position in Parker-Hannifin in the fourth quarter valued at approximately $11,434,000. Finally, Horizon Investments LLC boosted its stake in Parker-Hannifin by 78.8% in the fourth quarter. Horizon Investments LLC now owns 8,829 shares of the industrial products company's stock valued at $7,760,000 after acquiring an additional 3,892 shares during the period. 82.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PH has been the topic of a number of research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. BNP Paribas Exane restated an "outperform" rating and set a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. BMO Capital Markets restated an "outperform" rating and set a $1,214.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. Wells Fargo & Company dropped their target price on Parker-Hannifin from $980.00 to $950.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 26th. Finally, Stifel Nicolaus set a $1,075.00 target price on Parker-Hannifin in a research note on Friday, August 7th. Seventeen equities research 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $1,100.00.

Parker-Hannifin Trading Down 1.1%

Parker-Hannifin stock opened at $1,041.64 on Wednesday. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. 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 stock has a market capitalization of $131.34 billion, a PE ratio of 36.56, a price-to-earnings-growth ratio of 2.75 and a beta of 1.12. The firm has a 50 day simple moving average of $977.50 and a 200-day simple moving average of $947.39.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping 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 firm had revenue of $5.75 billion for the quarter, compared to analysts' expectations of $5.57 billion. During the same quarter in the previous year, the company earned $7.69 earnings per share. The firm's quarterly revenue 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. As a group, equities research analysts expect that Parker-Hannifin Corporation will post 34.88 EPS for the current fiscal 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source