Janus Henderson Group PLC Has $28.10 Million Stake in Parker-Hannifin Corporation $PH

Janus Henderson Group PLC increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,409 shares of the industrial products company’s stock after buying an additional 686 shares during the quarter. Janus Henderson Group PLC’s holdings in Parker-Hannifin were worth $28,102,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Parker-Hannifin by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 11,142,535 shares of the industrial products company’s stock valued at $9,793,843,000 after acquiring an additional 33,606 shares in the last quarter. Bank of America Corp DE increased its position in shares of Parker-Hannifin by 0.6% in the fourth quarter. Bank of America Corp DE now owns 3,926,896 shares of the industrial products company’s stock worth $3,451,584,000 after purchasing an additional 22,305 shares during the period. Capital World Investors raised its stake in Parker-Hannifin by 0.6% in the fourth quarter. Capital World Investors now owns 2,600,844 shares of the industrial products company’s stock valued at $2,286,038,000 after purchasing an additional 16,703 shares in the last quarter. Morgan Stanley raised its stake in Parker-Hannifin by 1.1% in the fourth quarter. Morgan Stanley now owns 2,133,044 shares of the industrial products company’s stock valued at $1,874,862,000 after purchasing an additional 22,367 shares in the last quarter. Finally, Norges Bank bought a new stake in Parker-Hannifin during the fourth quarter worth about $1,756,230,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Friday, April 10th. Wall Street Zen cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Truist Financial upped their price target on shares of Parker-Hannifin from $1,147.00 to $1,269.00 and gave the stock a “buy” rating in a report on Thursday, July 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Parker-Hannifin from $1,100.00 to $1,060.00 and set an “overweight” rating on the stock in a research note on Thursday, May 7th. Eighteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $1,027.38.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $978.14 on Monday. Parker-Hannifin Corporation has a 12-month low of $692.02 and a 12-month high of $1,034.96. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $933.72 and its two-hundred day moving average price is $938.15. The stock has a market cap of $123.33 billion, a PE ratio of 36.08, a P/E/G ratio of 2.61 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, April 30th. The industrial products company reported $8.17 EPS for the quarter, topping the consensus estimate of $7.84 by $0.33. Parker-Hannifin had a return on equity of 27.97% and a net margin of 16.58%.The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the firm earned $6.94 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis. As a group, analysts expect that Parker-Hannifin Corporation will post 31.26 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.