Perigon Wealth Management LLC Takes $1.46 Million Position in Parker-Hannifin Corporation $PH

Perigon Wealth Management LLC acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 1,492 shares of the industrial products company’s stock, valued at approximately $1,460,000.

A number of other hedge funds have also recently added to or reduced their stakes in PH. Texas Capital Bancshares Inc TX acquired a new stake in shares of Parker-Hannifin during the third quarter worth $25,000. HFM Investment Advisors LLC boosted 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 valued at $29,000 after buying an additional 30 shares during the period. Lloyd Advisory Services LLC. acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at about $31,000. NFSG Corp grew 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 valued at $31,000 after buying an additional 17 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its position in shares of Parker-Hannifin by 80.0% during 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 during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $1,055.30 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $974.79 and a 200-day simple moving average of $946.50. The company has a market cap of $133.06 billion, a PE ratio of 37.04, a P/E/G ratio of 2.75 and a beta of 1.12. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, beating the consensus estimate of $8.31 by $0.96. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, equities research analysts forecast that Parker-Hannifin Corporation will post 34.88 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 target price on shares of Parker-Hannifin in a report on Friday, August 7th. JPMorgan Chase & Co. dropped their price target 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. Susquehanna raised their price target on Parker-Hannifin from $1,100.00 to $1,250.00 and gave the stock a “positive” rating in a report on Friday, August 7th. Truist Financial boosted their price objective on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, KeyCorp upped their price objective on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Eighteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,100.00.

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.