Principle Wealth Partners LLC Takes Position in Parker-Hannifin Corporation $PH

Principle Wealth Partners LLC bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the second quarter, Holdings Channel reports. The firm bought 3,047 shares of the industrial products company’s stock, valued at approximately $2,980,000.

Several other hedge funds have also recently bought and sold shares of the business. Optas LLC lifted its position in Parker-Hannifin by 3.1% during the first quarter. Optas LLC now owns 370 shares of the industrial products company’s stock valued at $331,000 after buying an additional 11 shares in the last quarter. Moneta Group Investment Advisors LLC increased 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 worth $540,000 after acquiring an additional 11 shares in the last quarter. Inspire Advisors LLC raised its stake in shares of Parker-Hannifin by 1.2% in the 4th quarter. Inspire Advisors LLC now owns 917 shares of the industrial products company’s stock valued at $807,000 after acquiring an additional 11 shares during the period. RFG Advisory LLC raised its stake in shares of Parker-Hannifin by 0.3% in the 1st quarter. RFG Advisory LLC now owns 3,740 shares of the industrial products company’s stock valued at $3,348,000 after acquiring an additional 12 shares during the period. Finally, Allen Capital Group LLC lifted its holdings in shares of Parker-Hannifin by 4.8% during the 1st quarter. Allen Capital Group LLC now owns 264 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 12 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH opened at $1,055.30 on Tuesday. The company has a 50-day moving average of $974.79 and a 200-day moving average of $946.50. The company has a market capitalization of $133.06 billion, a P/E ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. 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 quick ratio of 0.74 and a current ratio of 1.26.

Parker-Hannifin (NYSE:PH) last issued 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 net margin of 16.97% and a return on equity of 28.48%. The business had revenue of $5.75 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter in the prior year, the business posted $7.69 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Equities analysts expect that Parker-Hannifin Corporation will post 34.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PH. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research report on Friday, May 1st. Evercore set a $1,064.00 price objective on Parker-Hannifin in a research note on Monday, May 11th. KeyCorp upped their target price on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, UBS Group increased 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. Eighteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.