Parker-Hannifin Corporation $PH Stake Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 6.8% in the second quarter, HoldingsChannel reports. The fund owned 46,177 shares of the industrial products company’s stock after buying an additional 2,955 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Parker-Hannifin were worth $45,167,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of PH. Norges Bank purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $1,756,230,000. Eurizon Capital SGR S.p.A. purchased a new position in Parker-Hannifin during the fourth quarter valued at approximately $185,532,000. Focus Partners Wealth increased its stake in Parker-Hannifin by 1,535.3% in the 4th quarter. Focus Partners Wealth now owns 221,010 shares of the industrial products company’s stock valued at $194,106,000 after buying an additional 207,495 shares during the period. Assenagon Asset Management S.A. increased its stake in Parker-Hannifin by 119.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 340,727 shares of the industrial products company’s stock valued at $305,032,000 after buying an additional 185,367 shares during the period. Finally, Amundi lifted its position in Parker-Hannifin by 36.4% in the 1st quarter. Amundi now owns 625,059 shares of the industrial products company’s stock worth $559,578,000 after buying an additional 166,962 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $1,069.26 on Thursday. The business’s 50-day simple moving average is $964.20 and its 200-day simple moving average is $943.82. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.74 and a current ratio of 1.26. Parker-Hannifin Corporation has a 52 week low of $715.37 and a 52 week high of $1,099.94. The firm has a market cap of $134.82 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 2.77 and a beta of 1.12.

Parker-Hannifin (NYSE:PH) last posted its earnings results 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. The firm had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%.The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $7.69 EPS. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. As a group, equities research analysts expect that Parker-Hannifin Corporation will post 34.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PH has been the topic of several research analyst reports. KeyCorp boosted 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. Truist Financial increased their price objective 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. Sanford C. Bernstein reissued an “outperform” rating and set a $1,037.00 price objective on shares of Parker-Hannifin in a research report on Thursday, July 16th. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 price target on shares of Parker-Hannifin in a research note on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Eighteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,091.38.

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.