HBK Sorce Advisory LLC Buys Shares of 9,979 Parker-Hannifin Corporation $PH

HBK Sorce Advisory LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,979 shares of the industrial products company’s stock, valued at approximately $9,948,000. Parker-Hannifin makes up 0.2% of HBK Sorce Advisory LLC’s portfolio, making the stock its 28th biggest holding.

Other large investors have also recently made changes to their positions in the company. Optas LLC boosted its stake in Parker-Hannifin by 3.1% during the 1st quarter. Optas LLC now owns 370 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 11 shares during the last quarter. Moneta Group Investment Advisors LLC raised its position in shares of Parker-Hannifin by 1.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 614 shares of the industrial products company’s stock valued at $540,000 after buying an additional 11 shares during the last quarter. Inspire Advisors LLC lifted its stake in shares of Parker-Hannifin by 1.2% in the fourth quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock worth $807,000 after buying an additional 11 shares in the last quarter. RFG Advisory LLC boosted its position in Parker-Hannifin by 0.3% during the first quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock worth $3,348,000 after acquiring an additional 12 shares during the last quarter. Finally, Allen Capital Group LLC boosted its position in Parker-Hannifin by 4.8% during the first quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 12 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Stifel Nicolaus set a $1,075.00 price objective on shares of Parker-Hannifin in a report on Friday, August 7th. BNP Paribas Exane restated an “outperform” rating and set a $1,220.00 target price (up from $1,090.00) on shares of Parker-Hannifin in a report on Friday, August 7th. KeyCorp upped their price target on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Wells Fargo & Company cut their price target on Parker-Hannifin from $980.00 to $950.00 and set an “overweight” rating for the company in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. reduced their price objective 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. 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Stock Performance

NYSE:PH opened at $1,055.34 on Monday. The company’s 50-day moving average is $971.32 and its two-hundred day moving average is $945.59. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year 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 firm 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.

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, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Analysts forecast that Parker-Hannifin Corporation will post 34.88 EPS for the current 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.