Global Retirement Partners LLC Makes New Investment in Parker-Hannifin Corporation $PH

Global Retirement Partners LLC bought a new stake in Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, Holdings Channel reports. The firm bought 3,784 shares of the industrial products company’s stock, valued at approximately $3,701,000.

A number of other large investors also recently made changes to their positions in PH. 1ST Source Bank acquired a new stake in Parker-Hannifin during the 2nd quarter worth approximately $667,000. Elite Life Management LLC bought a new position in Parker-Hannifin during the 2nd quarter worth $328,000. Fielder Capital Group LLC acquired a new stake in shares of Parker-Hannifin during the second quarter worth $213,000. Wilkinson Global Asset Management LLC acquired a new position in shares of Parker-Hannifin in the second quarter valued at about $44,755,000. Finally, SCS Capital Management LLC bought a new position in Parker-Hannifin during the second quarter worth about $5,690,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.0%

Shares of Parker-Hannifin stock opened at $1,055.34 on Monday. 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 price-to-earnings ratio of 37.04, a PEG ratio of 2.75 and a beta of 1.12. The firm’s 50-day moving average price is $971.32 and its two-hundred day moving average price is $945.59.

Parker-Hannifin (NYSE:PH) last issued 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. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The company had revenue of $5.75 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the previous year, the company earned $7.69 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. On average, analysts forecast that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on PH. BMO Capital Markets reiterated an “outperform” rating and issued a $1,214.00 price objective on shares of Parker-Hannifin in a research note on Friday, August 7th. Evercore set a $1,064.00 target price on shares of Parker-Hannifin in a report on Monday, May 11th. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a research report on Friday, August 7th. BNP Paribas Exane reiterated an “outperform” rating and issued a $1,220.00 price target (up from $1,090.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Truist Financial increased their price target on Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a research report 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.