Wealth High Governance Capital Ltda Has $18.86 Million Stake in Parker-Hannifin Corporation $PH

Wealth High Governance Capital Ltda boosted its position in Parker-Hannifin Corporation (NYSE:PH) by 54.4% during the first quarter, Holdings Channel reports. The institutional investor owned 21,068 shares of the industrial products company’s stock after purchasing an additional 7,427 shares during the quarter. Parker-Hannifin comprises approximately 5.7% of Wealth High Governance Capital Ltda’s portfolio, making the stock its 3rd largest holding. Wealth High Governance Capital Ltda’s holdings in Parker-Hannifin were worth $18,861,000 as of its most recent SEC filing.

Several 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 during the 4th quarter worth about $1,253,000. Truist Financial Corp increased its position in shares of Parker-Hannifin by 2.7% in the fourth quarter. Truist Financial Corp now owns 174,852 shares of the industrial products company’s stock valued at $153,687,000 after acquiring an additional 4,673 shares during the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $3,800,000. BCS Wealth Management raised its holdings in Parker-Hannifin by 83.3% during the fourth quarter. BCS Wealth Management now owns 3,120 shares of the industrial products company’s stock worth $2,742,000 after acquiring an additional 1,418 shares in the last quarter. Finally, Shepherd Street Advisors LLC acquired a new position in Parker-Hannifin during the fourth quarter valued at approximately $1,736,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PH shares. Mizuho set a $1,050.00 price target on Parker-Hannifin in a research note on Friday, May 1st. Stifel Nicolaus upped their price objective on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. Evercore set a $1,064.00 price objective on Parker-Hannifin in a report on Monday, May 11th. JPMorgan Chase & Co. decreased their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating for the company in a research note on Thursday, May 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $1,027.38.

Parker-Hannifin Stock Performance

PH opened at $978.14 on Monday. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Parker-Hannifin Corporation has a 12-month low of $692.02 and a 12-month high of $1,034.96. The business has a 50 day moving average of $933.72 and a 200-day moving average of $938.15. The stock has a market cap of $123.33 billion, a price-to-earnings ratio of 36.08, a PEG ratio of 2.61 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, April 30th. The industrial products company reported $8.17 earnings per share for the quarter, topping analysts’ consensus estimates of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the firm earned $6.94 EPS. The firm’s revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts expect that Parker-Hannifin Corporation will post 31.26 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.