Danica Pension Livsforsikringsaktieselskab Purchases 32,240 Shares of Parker-Hannifin Corporation $PH

Danica Pension Livsforsikringsaktieselskab raised its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 188.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 49,318 shares of the industrial products company’s stock after purchasing an additional 32,240 shares during the period. Danica Pension Livsforsikringsaktieselskab’s holdings in Parker-Hannifin were worth $48,239,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Texas Capital Bancshares Inc TX bought a new position in shares of Parker-Hannifin during the third quarter valued at $25,000. HFM Investment Advisors LLC increased its holdings in Parker-Hannifin by 1,000.0% in the 4th quarter. HFM Investment Advisors LLC now owns 33 shares of the industrial products company’s stock worth $29,000 after buying an additional 30 shares in the last quarter. Lloyd Advisory Services LLC. purchased a new position in Parker-Hannifin in the 4th quarter worth about $31,000. NFSG Corp raised its position in Parker-Hannifin by 94.4% in the 1st quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock worth $31,000 after buying an additional 17 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in Parker-Hannifin by 80.0% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 36 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 16 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PH shares. KeyCorp raised their price target on shares of Parker-Hannifin from $1,100.00 to $1,210.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Evercore set a $1,064.00 price objective on shares of Parker-Hannifin in a report on Monday, May 11th. BNP Paribas Exane restated an “outperform” rating and set a $1,220.00 price objective (up from $1,090.00) on shares of Parker-Hannifin in a research report on Friday, August 7th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Stifel Nicolaus set a $1,075.00 target price on shares of Parker-Hannifin in a research note on Friday, August 7th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,100.00.

Parker-Hannifin Stock Performance

PH opened at $1,041.64 on Wednesday. The company’s 50 day moving average is $977.50 and its 200 day moving average is $947.39. The company has a current ratio of 1.26, a quick ratio of 0.74 and a debt-to-equity ratio of 0.44. The company has a market cap of $131.34 billion, a price-to-earnings ratio of 36.56, a PEG ratio of 2.75 and a beta of 1.12. 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 announced its earnings results on Thursday, August 6th. The industrial products company reported $9.27 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 during the quarter, compared to analysts’ expectations of $5.57 billion. During the same period in the prior year, the company earned $7.69 earnings per share. The firm’s 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. On average, equities research analysts predict that Parker-Hannifin Corporation will post 34.88 EPS 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.