Merit Financial Group LLC Has $5.43 Million Stake in Parker-Hannifin Corporation $PH

Merit Financial Group LLC reduced its holdings in Parker-Hannifin Corporation (NYSE:PH) by 8.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,555 shares of the industrial products company’s stock after selling 524 shares during the quarter. Merit Financial Group LLC’s holdings in Parker-Hannifin were worth $5,433,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Farther Finance Advisors LLC grew its position in shares of Parker-Hannifin by 6.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 6,461 shares of the industrial products company’s stock valued at $6,316,000 after purchasing an additional 363 shares during the period. Altus Wealth Group LLC increased its stake in Parker-Hannifin by 8.3% during the 2nd quarter. Altus Wealth Group LLC now owns 365 shares of the industrial products company’s stock worth $357,000 after purchasing an additional 28 shares in the last quarter. HM Payson & Co. raised its holdings in Parker-Hannifin by 67.8% during the 2nd quarter. HM Payson & Co. now owns 44,921 shares of the industrial products company’s stock worth $43,939,000 after buying an additional 18,155 shares during the period. Cary Street Partners Investment Advisory LLC raised its holdings in Parker-Hannifin by 20.7% during the 2nd quarter. Cary Street Partners Investment Advisory LLC now owns 361 shares of the industrial products company’s stock worth $353,000 after buying an additional 62 shares during the period. Finally, Great Diamond Partners LLC lifted its stake in Parker-Hannifin by 2.3% in the second quarter. Great Diamond Partners LLC now owns 4,066 shares of the industrial products company’s stock valued at $3,977,000 after buying an additional 93 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Parker-Hannifin from $1,092.00 to $1,250.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,214.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a research note on Monday, May 11th. Truist Financial increased their target price on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, KeyCorp lifted their price target on Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Eighteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,100.00.

Parker-Hannifin Price Performance

NYSE PH opened at $1,055.34 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44. Parker-Hannifin Corporation has a 12-month low of $715.37 and a 12-month high of $1,099.94. The company has a market capitalization of $133.07 billion, a PE ratio of 37.04, a price-to-earnings-growth ratio of 2.76 and a beta of 1.12. The firm’s 50 day moving average is $971.32 and its 200-day moving average is $945.51.

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

Parker-Hannifin 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.