Wilkinson Global Asset Management LLC Makes New Investment in Parker-Hannifin Corporation $PH

Key Points

• Wilkinson Global Asset Management purchased 45,756 Parker-Hannifin shares worth approximately $44.8 million, making the stock 3.6% of its portfolio. Institutional investors collectively own 82.44% of the company.
• Analysts remain broadly positive: 18 rate Parker-Hannifin a Buy and four a Hold, producing a consensus “Moderate Buy” rating and a $1,100 price target.
• Parker-Hannifin exceeded quarterly expectations, reporting $9.27 in EPS and $5.75 billion in revenue; revenue rose 9.8% year over year and surpassed analysts’ estimates.

Wilkinson Global Asset Management LLC purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 45,756 shares of the industrial products company's stock, valued at approximately $44,755,000. Parker-Hannifin accounts for about 3.6% of Wilkinson Global Asset Management LLC's investment portfolio, making the stock its 15th biggest holding.

Several other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in Parker-Hannifin during the 4th quarter worth approximately $1,756,230,000. Bank of New York Mellon Corp acquired a new position in shares of Parker-Hannifin in the second quarter valued at approximately $712,222,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $185,532,000. Focus Partners Wealth raised its holdings in shares of Parker-Hannifin by 1,535.3% during the fourth quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company's stock worth $194,106,000 after acquiring an additional 207,495 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Parker-Hannifin by 119.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company's stock valued at $305,032,000 after acquiring an additional 185,367 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of research analyst reports. BNP Paribas Exane reaffirmed an "outperform" rating and issued a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. UBS Group boosted their price target on Parker-Hannifin from $1,092.00 to $1,250.00 and gave the company a "buy" rating in a report on Friday, August 7th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Parker-Hannifin in a research report on Friday, July 17th. JPMorgan Chase & Co. dropped their target price on Parker-Hannifin from $1,100.00 to $1,060.00 and set an "overweight" rating on the stock in a research report on Thursday, May 7th. Finally, Evercore set a $1,064.00 target price on Parker-Hannifin in a research note on Monday, May 11th. Eighteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,100.00.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $1,055.34 on Monday. The stock has a market capitalization of $133.07 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. The business has a 50-day moving average of $971.32 and a 200-day moving average of $945.59. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. Parker-Hannifin Corporation has a fifty-two week low of $715.37 and a fifty-two week high of $1,099.94.

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 (EPS) for the quarter, beating analysts' consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.57 billion. During the same quarter in the previous year, the business earned $7.69 earnings per share. Parker-Hannifin's quarterly 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. As a group, sell-side analysts predict that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

About Parker-Hannifin

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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