15,110 Shares in Parker-Hannifin Corporation $PH Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,110 shares of the industrial products company’s stock, valued at approximately $14,779,000.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after acquiring an additional 101 shares during the last quarter. Bison Wealth LLC boosted its position in shares of Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after acquiring an additional 32 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock valued at $1,759,000 after purchasing an additional 15 shares during the period. Acadian Asset Management LLC grew its holdings in shares of Parker-Hannifin by 26.2% in the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock valued at $484,000 after purchasing an additional 166 shares during the period. Finally, Sivia Capital Partners LLC increased its position in Parker-Hannifin by 3.6% during the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 15 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 1.1%

Shares of PH stock opened at $1,041.64 on Wednesday. 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 cap of $131.34 billion, a PE ratio of 36.56, a price-to-earnings-growth ratio of 2.75 and a beta of 1.12. The company has a 50-day moving average of $977.50 and a two-hundred day moving average of $947.39. Parker-Hannifin Corporation has a 1-year low of $715.37 and a 1-year high of $1,099.94.

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. JPMorgan Chase & Co. dropped their price target 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. Mizuho set a $1,050.00 price target on shares of Parker-Hannifin in a research report on Friday, May 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a report on Friday, July 17th. Finally, BNP Paribas Exane reiterated an “outperform” rating and issued a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $1,100.00.

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.