Fisher Funds Management LTD Has $13.99 Million Position in Parker-Hannifin Corporation $PH

Fisher Funds Management LTD lowered its holdings in Parker-Hannifin Corporation (NYSE:PH) by 5.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,299 shares of the industrial products company’s stock after selling 828 shares during the quarter. Fisher Funds Management LTD’s holdings in Parker-Hannifin were worth $13,986,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Texas Capital Bancshares Inc TX acquired a new stake in Parker-Hannifin during the third quarter valued at approximately $25,000. HFM Investment Advisors LLC raised its holdings in shares of Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after buying an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. bought a new position in shares of Parker-Hannifin during the 4th quarter worth approximately $31,000. NFSG Corp lifted its position in shares of Parker-Hannifin by 94.4% during the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after buying an additional 17 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its stake in Parker-Hannifin by 80.0% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after buying an additional 16 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.7%

NYSE PH opened at $1,069.26 on Thursday. The firm has a market cap of $134.82 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 2.77 and a beta of 1.12. Parker-Hannifin Corporation has a one year low of $715.37 and a one year high of $1,099.94. The stock’s 50 day simple moving average is $964.20 and its 200 day simple moving average is $943.82. 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 (NYSE:PH) last issued its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion during the quarter, compared to the consensus estimate of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, sell-side analysts forecast that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PH shares. BNP Paribas Exane reiterated an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Susquehanna lifted their price objective on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the company a “positive” rating in a report on Friday, August 7th. JPMorgan Chase & Co. reduced their target price on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a report on Friday, May 1st. Finally, Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a research report on Friday, August 7th. Eighteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $1,091.38.

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.