34,315 Shares in Parker-Hannifin Corporation $PH Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI bought a new position in Parker-Hannifin Corporation (NYSE:PH) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 34,315 shares of the industrial products company’s stock, valued at approximately $33,564,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PH. BlackRock Inc. acquired a new position in shares of Parker-Hannifin during the second quarter worth about $10,163,362,000. Norges Bank acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $1,756,230,000. Deutsche Bank AG purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $987,587,000. Bank of New York Mellon Corp purchased a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $712,222,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Parker-Hannifin during the 2nd quarter worth approximately $305,628,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Mizuho set a $1,050.00 target price on shares of Parker-Hannifin in a research note on Friday, May 1st. Stifel Nicolaus set a $1,075.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Sanford C. Bernstein boosted their price objective on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the stock an “outperform” rating in a report on Friday. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 price objective on shares of Parker-Hannifin in a research report on Friday, August 7th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Friday, July 17th. Eighteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,100.00.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $1,055.30 on Tuesday. 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. The company has a fifty day moving average price of $974.79 and a two-hundred day moving average price of $946.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. 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 released its quarterly earnings data on Thursday, August 6th. The industrial products company reported $9.27 earnings per share for the quarter, topping 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 firm 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 earned $7.69 earnings per share. Parker-Hannifin’s quarterly revenue was up 9.8% on a year-over-year basis. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Research analysts expect that Parker-Hannifin Corporation will post 34.88 earnings per share for the current 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.